Unemployment jumps to more than 10 percent

March 21, 2010

Valencia County’s unemployment rate for January 2010 shows an alarming rise in unemployment.

The rate jumped more than one percent from December, rising to 10.1 percent, according to the United States Bureau of Labor Statistics.

Unemployment rises above 10 percent in January.

In Belen, several businesses have closed or are nearing closure.

Tire Crafters (formerly Big O Tires), located in the Heart of Belen, closed in February. Paradise Novelties, on the same block along Main Street, shut down, too.

Movie Gallery, which is in financial trouble nationally, is shutting down, selling its stock as part of a “Going Out of Business” sale.

On Friday, Belen Mayor Rudy Jaramillo, Sen. Michael Sanchez and United States Sen. Jeff Bingaman hosted an economic summit in Belen to begin finding ways to reestablish Belen as an economic base in Valencia County.

During the all-day event at the Belen Public Library, panels of speakers, which included a number of Belen business owners, spoke about how best to utilize Belen’s assets to maintain Belen’s businesses while attracting new business to the city.

The summit produced more ideas than action, but the comments by the speakers and citizens, who participated in a working session at the end of the day, will become part of a report presented at a later date to the City of Belen.

Posted in: Economy