ABQJOURNAL BIZ: AROUND N.M.

Friday, February 05, 2010

AROUND N.M.

          Louisiana Energy Expands to Jal
        JAL, N.M. — Louisiana Energy Services will create 30 jobs in Jal in an expansion of its operations in southeastern New Mexico. The expansion also will create 60 construction jobs to renovate the buildings LES will use.
        Gov. Bill Richardson says the 30 permanent jobs will have an average salary of $75,000 a year. The construction jobs will last through 2015.
        LES's National Enrichment Facility being built in Eunice will provide 50 percent of the total demand for nuclear fuel in the United States by 2015.
        The jobs announced this week will be added to the already 300 permanent jobs LES has already created in Lea County. The company also will maintain 500-700 construction jobs.
        Richardson says LES's payroll for New Mexico is expected to reach $30 million this year.
        Youth Corps Awards $3M for 650 Jobs
        SANTA FE — The Youth Conservation Corps has awarded $3 million in grants to create 650 summer and seasonal jobs for New Mexico youths aged 14 to 25.
        Energy, Minerals and Natural Resources Secretary Jon Goldstein says the youth in the program develop an appreciation of natural resources, cooperation, hard work and accomplishment while earning wages.
        This year, 54 projects sought more than $4.7 million in New Mexico. Of those, 32 projects were awarded grants. Projects were funded in Gallup, Rio Rancho, Roswell, Albuquerque, Santa Fe, Farmington and a number of other communities.
        Employers Squeeze, Productivity Rises
        WASHINGTON — Worker productivity rose more than expected in the October-December quarter as companies squeezed more output from their employees.
        The Labor Department said Thursday that productivity rose by a seasonally adjusted 6.2 percent in the fourth quarter, above analysts' expectations of a 6 percent rise.
        The department also said labor costs fell 4.4 percent, the fourth straight decline. Falling labor costs can boost company profits. Hourly compensation rose 1.5 percent, the department said. But costs fell because the rise in compensation was much less than the productivity increase.
        Factory Orders Post Big December Gain
        WASHINGTON — Orders to U.S. factories posted a big gain in December, far exceeding expectations and adding to evidence that the manufacturing sector is supporting the economic recovery.
        The Commerce Department said Thursday that orders rose by 1 percent last month, double the 0.5 percent forecast by economists surveyed by Thomson Reuters. The advance was the eighth increase in the past nine months.
        It was led by big gains in orders for metals such as steel and aluminum, as well as machinery. However, orders for transportation equipment as well as computers and electronics dipped slightly.
        Orders for durable goods, items expected to last three years, rose 1 percent from last week's preliminary estimate of 0.3 percent.

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