New Mexico’s unemployment rate increases from a year ago but jobs added


Mar. 13—New Mexico’s unemployment rate remained unchanged from December but added thousands of jobs from the same time last year.

According to the state Department of Workforce Solutions, the seasonally adjusted unemployment rate for January was 4%, up from 3.6% a year ago and higher than the national rate of 3.7%.

The department said in a news release Monday the total nonagricultural payroll in the state, which excludes private household and farm employees, increased by 15,500 jobs from January 2023.

New Mexico’s January unemployment rate is in line with Michigan — tied for the 35th lowest — and is slightly lower than neighboring Arizona at 4.2%, according to data from the U.S. Bureau of Labor Statistics. Colorado and Texas’ rates were lower — at 3.4% and 3.9%, respectively — than New Mexico’s, which has remained flat going back to October. North Dakota had the lowest rate of unemployment to start the year at 1.9%.

Most of New Mexico’s employment gains came in the private sector, which added 9,000 jobs year over year. The public sector added 6,500 jobs, according to the Department of Workforce Solutions.

The professional and business services industries saw the largest jump in the private sector, adding 3,400 jobs.

The trade, transportation and utilities industries saw an increase of 1,300 jobs, spurred by a 2,700 jump in retail trade jobs, according to the department; transportation, warehousing and utilities jobs decreased by 1,100 and wholesale trade by 300. Leisure and hospitality employment increased by 1,100.

On the public sector side, local government saw the largest increase with 3,700 jobs added. State government added 2,100 jobs and federal government employment increased by 700.

Total employment in New Mexico stood at 930,351 people.

Santa Fe County’s nonseasonally adjusted unemployment rate stood at 3.5% for January, slightly lower than Bernalillo County’s rate of 3.7%. Los Alamos County had the lowest rate of unemployment at 1.9% and Luna County had the highest at 13.5%.

January’s unemployment data comes at a later time this year, following a process known as benchmarking in which more complete data is implemented to give a more accurate count of unemployment rates for the previous year.

“NMDWS and the BLS revise these estimates each year by incorporating the employment data collected through the Quarterly Census of Employment and Wages program for employees covered under unemployment insurance,” said Stacy Johnston, a spokeswoman for the Department of Workforce Solutions.

Signup bonus from $125 to $3000 | Signup now Football & Online Casino

0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

You Might Also Like: