KRWG News: Border Forum: Economy Update


Uploaded by KRWGnews on Nov 4, 2011. 11.02.11 (LAS CRUCES) — Local economist Dr. Christopher Erickson of New Mexico State University recently sat down with business leaders in the community to update them on what’s happening with the economy.

It seems more and more people are worried about job security.

“If you’re a high school drop out it’s a real tough economy, even if you’re a college graduate it’s a tough economy,” said Dr. Erickson, associate professor of Economics at NMSU.

“People are concerned about their jobs, concerned about where they work and so naturally they turn to issues involving the economy,” he said.

Erickson says the economy is slowly recovering, but will take some time considering we were just out of a recession that was associated with a financial crisis.

“We’ve had a rough patch. That’s driven mainly by the fact the baseman line and closure process is completed. Of course, Ft. Bliss which is located in El Paso county was a huge recipient under the realignment process and that is a major driver of growth in our local community over the last five years and I estimated to add about one percent to the growth of our economy each year for the last five years over what it would have been,” he said.

But there is a light at the end of the tunnel; Erickson predicts the local economy will turn around in the next year.

“The new train depot is being built in the southern part of the state, that’s going to employ three thousand construction workers which if you figure it out that’s four percent of our total workforce so that’s a real bump right there and ultimately it will employee four hundred people on a permanent basis,” he said.

Reported by Carlos Correa

This entry was posted in News and tagged , , , , , , , , , , . Bookmark the permalink. Follow any comments here with the RSS feed for this post. Both comments and trackbacks are currently closed.