Their view: Richardson lauds Recovery Act results

Gov. Bill Richardson today highlighted a new report that shows billions of federal stimulus dollars have supported New Mexico’s economy and provided for more than 24,000 jobs through June 30, 2010.

Another 23,000 jobs will be supported through June 30, 2011, according to a report by University of New Mexico economists.

New Mexico workers will have received more than $2 billion in wages, benefits and income by July 2011, the report shows. The report was prepared by The University of New Mexico’s Bureau of Business and Economic Research.

“The American Recovery and Reinvestment Act has had a broad and positive impact on New Mexico’s economy, and it has helped thousands of working families during a difficult time,” Richardson said.

The Recovery Act supported 5,342 education jobs alone through June 30, 2010, according to the report. Another 4,415 education jobs will be supported by additional millions in federal spending to flow through New Mexico classrooms through June 30, 2011.

The Recovery Act also supports thousands of health care jobs, state and local government jobs, the retail sector, and construction, among other categories.

The report concludes that New Mexico has experienced a historic recession with major job losses — but that recession would be much deeper and more painful without the estimated $5.7 billion and tens of thousands of jobs generated from the Recovery Act.

“The Recovery Act continues to put thousands of New Mexicans to work, and I am extremely pleased to see education at the top of the list,” Richardson said. “Teachers are working. Schools are open. Our families are still being served by hard-working, professional educators.