And, WE are in GOOD shape!

Every month, the employment picture looks bleaker when compared to the same month last year.

First, the entire state of New Mexico, comparing October '07 to October "08:

• Job growth was .o1% -- the lowest in 17 years
• Manufacturing (including the high-paying tech industry) lost 2,500 jobs
• Construction lost 1,500 jobs
• Leisure and hospitality shed 1,400 jobs
• Financial services also lost -- a total of 700 jobs
  

Keeping us (barely) in the '+' column are:

• Eduction and health services added 4,400 jobs
• Mining (mainly exploration) added 1,000 jobs
• Government added 1,900 jobs
  
• Information (including our growing film industry) added just 100 jobs

When the focus is narrowed to just the Albuquerque area, the picture does not improve. Overall unemployment on a year-to-year basis increased from 3.3% to 4.6%. And, payroll employment fell a total of 1,500 jobs on a year-to-year basis.

Imagine what it must be like in one of the states with real problems!

Some Good News For A Change

General Mills will be expanding its existing Albuquerque plant early next year. The $100 million addition will manufacture snack products. The current plant manufactures breakfast cereals.

When complete, the new facility will employ an additional 60 people. That isn't much in the grand scheme of things but the $100 million construction budget will be very welcome to a construction industry that has fallen on hard times lately.

Another Casualty of the Credit Crisis...

...and this one hurts.

Eclipse Aviation Corporation, the first company to successfully navigate the technological maze and create a very light passenger jet, told its workers today that it could not pay checks for the period just ended on November 12th.

Eclipse has been seeking a loan of between $200-300 million. Not surprisingly, it has been unable to raise the funds.