Employment data for October, released Friday by the Bureau of Labor Statistics, shows that the unemployment rate has reached a 26-year high of 10.2 percent. Teen unemployment has risen to a record 27.6 percent, according to the Employment Policies Institute.

Not only has teen unemployment increased by 33 percent since last October, but the percentage of teens participating in the labor force — those who are looking for a job or already have one — fell to 36.2 percent, its lowest point since recordkeeping began in 1948.

The hardest hit teenage group is African-Americans, for whom the unemployment rate rose to 41.3 percent — an increase of nearly 28 percent from 2008, and over
four times the national average.

Research from Ohio University found that a 10 percent increase in the effective minimum wage is associated with a 3.2 percent decrease in youth unemployment. Research from the University of Georgia found that such an increase was even larger for teens at small businesses — ranging from a 4.6 to 9.0 percent decline.


Los Alamos National Bank has opened a new Santa Fe branch at 3674 Cerrillos Road, at Vegas Verde.

The 13,500 square-foot, two-story building was built to Gold LEED standards and features five drive-up lanes with a night depository.

For more information on Lost Alamos National Bank, visit www.lanb.com.


Scott Robinson, a reverse-mortgage specialist, will hold an informational meeting from
2 to 3 p.m. Thursday at the Joseph Montoya Federal Building, Room 107, in the downtown post office building on Federal Place.

Robinson will share both the advantages and disadvantages of the reverse-mortgage product.

Attendants will be able to ask questions and refreshments will be served. For more information, call 795-7586.


Kokopelli Property Management has been named by OfficialBestOf as the leader in vacation rentals in New Mexico.

OfficialBestOf is a national organization that reviews and rates thousands of hotels, vacation rental properties, restaurants and attractions across the United States.

For more information, contact Charles Goodman at 988-7244.