- Associated Press - Friday, May 13, 2016

CARLSBAD, N.M. (AP) - The recent layoffs at a potash mining facility in southeastern New Mexico are expected to slow the economy in surrounding areas.

The Carlsbad Current-Argus reports (https://bit.ly/1Tf0Bcz ) that experts expect the 300 employees laid off by Intrepid Potash Inc. on Monday will pull the economy down, though Eddy County’s diverse economy should provide some shelter in the coming financial storm.

Bureau of Labor Statistic economist James Howard Jr. says Eddy County relies on mining, with more than 7,000 employees in the mining and natural resources industry in the county earning more than $13.4 million in 2015.

Carlsbad Mayor Dale Janway says having a potash slump at the same time as low oil and gas prices will hurt the city, but the damage will not be irreparable. He says he hopes several planned development projects will help the job market.


Information from: Carlsbad Current-Argus, https://www.currentargus.com/

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