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Business/Economy

  • Co-op Hits $1 Million Mark

    “We have done it! This community provided the funding, the heart and the soul to make the store a reality,” said President Nancy Savoia of the Los Alamos Cooperative Market board of directors.
    The co-op has raised more than $1 million from member loans and member investment certificates as of Dec. 31. All financing for the new natural foods grocery store has been raised from local member households, now totaling 712.
    General Manager Steve Watts anticipates that the store will open in just a few weeks.

  • Jobless rate declines as people stop looking for work

    WASHINGTON (AP) — The nation's economy added 103,000 jobs in December and the unemployment rate dropped to 9.4 percent last month, its lowest level in 19 months.

    But the job growth fell short of expectations based on a strengthening economy. And the drop in unemployment was mainly because people stopped looking for work.

    Private employers added a net total of 113,000 jobs last month and the government shed 10,000 jobs, the Labor Department said Friday.

  • No big increase in local gas prices

    While some states face a $4 per gallon price tag for gas this year, locally, gas prices appear to have stabilized.
    Gasoline prices at stations throughout Los Alamos did not drastically deviate.
    As of Monday afternoon, the price for regular ranged from $2.89 to $2.91, regular plus went from $2.99 to $3.08, premium gas ranged from $3.09 to $3.20 and diesel went from $3.34 to $3.45.
    The Conoco stations, Metzger’s Mobil and Chevron shared similar gas prices.

  • Martinez suspends pending NM agency regulations

    SANTA FE, N.M. (AP) — Gov. Susana Martinez is halting pending regulations by executive branch agencies under her control to determine whether they hurt businesses in New Mexico.

    Martinez also directed agencies to review rules and regulations that are in place and determine by the end of the month which ones should be scrapped to improve economic development and job growth.

    Shortly after taking office on Saturday, Martinez issued an executive order to suspend pending and proposed regulations for 90 days while they are reviewed by a task force.

  • Initial jobless claims hit lowest level since July 2008

    WASHINGTON (AP) — The number of people applying for unemployment benefits fell to its lowest point in more than two years, a sign that the job market may be slowly improving.

    Applications dropped by 34,000 to 388,000, the fewest since July 2008, the Labor Department said Thursday. The level of applications has either fallen or remained unchanged in five of the past six weeks.

  • Holiday 2010: The year shoppers came back

    NEW YORK (AP) — Shoppers came back in force for the holidays, right to the end. After two dreary years, Christmas 2010 will go down as the holiday Americans rediscovered how much they like to shop.

    People spent more than expected on family and friends and splurged on themselves, too, an ingredient missing for two years. Clothing such as fur vests and beaded sweaters replaced practical items like pots and pans. Even the family dog is getting a little something extra.

  • Economy brightens as consumers spend, layoffs slow

    WASHINGTON (AP) — Economic reports Thursday suggest employers are laying off fewer workers, businesses are ordering more computers and appliances, and consumers are spending with more confidence.

    The latest data confirm that the economy is improving, even though too few jobs are being created to lower the 9.8 percent unemployment rate.

  • New govs take office amid historic budget crisis

    NEW YORK (AP) — New York's incoming governor, Democrat Andrew Cuomo, says he won't raise taxes even though he will inherit a budget deficit of at least $9 billion when he takes office in January. Ohio Republican Gov.-elect John Kasich is promising to cut taxes, despite a shortfall of about $8 billion.

  • Unemployment benefit claims dip for sixth week

    WASHINGTON (AP) — Fewer people applied for unemployment benefits last week, the third drop in the past four weeks and a sign that the job market may be slowly improving.

    Weekly claims for jobless aid dipped by 3,000 to a seasonally adjusted 420,000 in the week ending Dec. 11, the Labor Department said Thursday.

    The four-week average of claims, a less-volatile measure, fell for the sixth straight week to 422,750. That's the lowest level since August 2008, just before the financial crisis intensified with the collapse of Lehman Brothers.

  • Obama-GOP tax bill clears Senate hurdle with ease

    WASHINGTON (AP) — Far-reaching legislation to avert a Jan. 1 income-tax increase for millions won overwhelming support in a Senate test vote on Monday, propelled by an uneasy and unusual alliance between the White House and lawmakers in both parties.

    Eager to trumpet the 85-13 vote, President Barack Obama said even before it was announced it proved "that both parties can in fact work together to grow our economy and look out for the American people."