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ETA News Release: [08/21/2006]
Contact Name: Michael Volpe or David James
Phone Number: (202) 693-4676 or x3984
Release Number: 06-1450-DAL

U.S. Department of Labor Releases $154,962 to Assist Trade-Affected Workers in New Mexico

WASHINGTON — The U.S. Department of Labor today released $154,962 to assist approximately 86 trade-affected workers in New Mexico. The funding, provided through the Trade Adjustment Assistance (TAA) program, will enable the state to continue providing training to workers certified as eligible to receive TAA benefits.

"New Mexico will use the funds released today to provide trade-affected workers with training and other assistance, to help them prepare for careers in industries experiencing growth," said Assistant Secretary of Labor Emily Stover DeRocco of the Employment and Training Administration. "These funds will provide eligible workers with up to 104 weeks of training. Additionally, these workers can receive up to two years of income support and help with job search and relocation expenses."

The Health Coverage Tax Credit (HCTC), which pays 65 percent of the premium for qualified coverage, is an additional program benefit. Certain older workers who become re-employed quickly may receive a wage subsidy of up to $10,000 under the Alternative TAA program in lieu of training.

Congress allocates approximately $220 million annually for TAA training. Each year, the U.S. Department of Labor's Employment and Training Administration allocates 75 percent of available TAA funds, or $165 million, on Oct. 1. The remaining 25 percent of funds are reserved for states experiencing large, unexpected layoffs during the year. States may request additional money from the reserve account after they have spent at least 50 percent of the allocated TAA funds.

New Mexico received a fiscal year 2006 base allocation of $434,552 to train workers dislocated because of trade and to cover administration costs. The New Mexico Department of Labor's Employment Security Division administers the TAA program and will receive the funds released today.

Additional information about the TAA program is on the Internet at www.doleta.gov/tradeact/.