NM Senate Majority Leader Michael Sanchez Announces Creation of Jobs Leadership Team

As an article recently reported in the Santa Fe New Mexican, New Mexico is now ranked dead last in job growth, and the state is still losing jobs:

New Mexico was one of 12 states and the District of Columbia to lose jobs from May 2010 to May 2011 — and ranked last in overall growth with a decline of 6,300 jobs, or 0.8 percent, according to the Bureau of Labor Statistics. In April, the state lost 2,600 jobs and ranked 51st in the percent of decline, behind the District of Columbia. In March, the state lost 300 jobs — the deepest percent decline except for Kansas. 

... Other statistics also show that New Mexicans are staying unemployed longer. 

• New Mexico has is the fifth highest average duration of unemployment — 21 weeks. 
• The percent of people leaving the unemployment rolls each month without work is the fourth highest in the country. 
• And 26 percent of those receiving state unemployment benefits have been on the rolls for more than 52 weeks. 

Even though the unemployment rate in New Mexico recently dipped, various measures and analyses have indicated that's primarily because discouraged workers are quitting the job hunt -- perhaps even leaving the state -- and our labor force is declining. According to Douglas Hall of the Washington, D.C.-based Economic Policy Institute, New Mexico's economy needs to produce another 82,000 jobs to return to pre-recession levels. Hispanics have been especially hard hit. "What we need to be seeing is an effort to infuse as much money into the economy as possible," Hall said. 

That's why yesterday's announcement by Senate Majority Leader Michael S. Sanchez (D-Valencia-29) that he has created a much needed jobs-focused leadership team -- tasked with getting New Mexicans back to work -- is so heartening. Senator Sanchez noted that since June of this year he has spearheaded a series of meetings with a high impact group of business and public sector leaders to collaborate in a bipartisan manner focusing on job creation in our state.

Hear, hear!

“We must look at a comprehensive approach to lifting our state out of this recession. I have directed the leadership team to look beyond their particular special interests and work towards a plan that enhances job opportunities for all New Mexicans,” Sanchez said. “Sound legislative leadership has positioned us to have $70 to $100 million of revenue growth for the coming fiscal year. In the 2012 regular session, we will meet our current obligations and use new revenues in a principled manner to strengthen job growth.”

Dual Focus on Short-and Long-Term
Senator Sanchez said the team's directives are twofold. First, it intends to concentrate on short-term employment gains that can be made in industries that have been devastated by the recession, such as the construction and professional and business services industries. Special attention will be given to New Mexico small businesses.

Second, the long-term strategy will be to look inward, rebuild, and prepare for the next advent of economic opportunity. As the US regains economic traction and stability, new businesses, industries and economic opportunities will be created. “It is imperative that New Mexico be the place where the pillars of the new economy are built,” said Senate Minority Leader Stuart Ingle (R-Chaves, De Baca, Roosevelt) who is also working with the group to identify policy changes that can be made in order to spur job growth. 

“New Mexico is uniquely situated because of our scientific community, universities and natural resources to grow its economy and as a result increase employment opportunities. For instance, we are in a position to be the national leader in wind and solar energy and should be aggressive in our efforts to utilize our resources to insure our prominence in these areas. Our work force is among the best and it is incumbent upon us to continue to provide opportunities to advance their skills; by doing so, both the public and private sectors benefit,” Senator Sanchez concluded.