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| An Eye on Jobs |
June 13, 2005 |
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Dear Friends,
I watch the national and state economic numbers pretty closely and the news continues to be good.
May was the 24th straight month of job growth with 3.5 million jobs created in America since March 2003. Unemployment has dropped to 5.1% -- quite low by historical standards. Economic growth in the first quarter was 3.5%. The Congressional Budget Office reported in May that the strong economy and controlling the growth in government spending is reducing the deficit.
Interest rates are low, inflation is low and more people own their own homes than ever before.
In New Mexico, we`ve increased the number of jobs by 14,000 over the last year.
While I watch the numbers, I also get to see businesses up close and talk to people about how things are going.
About a week ago I dropped by Advent Solar, a start up company determined to lower the cost of solar power with some technology to do it. They are setting up their pilot manufacturing line and booking orders, including a lot of orders for export. If they choose to stay in New Mexico (and I encouraged them to) that will mean close to 200 manufacturing jobs over the next few years.
And this week we cleared some hurdles with the BIA so that it locates its National Training Center and its National Data Center in Albuquerque in the new building going up on the Indian School property. Very good paying jobs. If we work it right, over the next 5 years or so, one in ten BIA employees will be located in New Mexico.
All of this is good news.
Wish you were here,
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