Unemployment rate continues to rise

April 11, 2010

Valencia County’s unemployment rate continued to rise in February, jumping up two-tenths of a percent from January.

The unemployment rate for February hit 10.3 percent, surpassing January’s high of 10.1 percent, according to the United States Bureau of Labor Statistics.

The unemployment rate for February 2010.

February’s numbers were released as Signet Solar, a solar technology manufacturing company promising to bring 600 jobs to Belen, decided it won’t build in Belen, after failing to receive a federal loan guarantee to fund the project.

At the same time the job market remains in decline, gross receipts tax revenue continues to be down throughout the county, even while Lowe’s is constructing a new home improvement store in Los Lunas.

Posted in: Economy