New Mexico’s Unemployment Rate 4.7% in December
New Mexico’s seasonally adjusted unemployment rate was 4.7 percent in December 2018, up from 4.6 percent in November and down from 6.0 percent a year ago. The national unemployment rate in December was 3.9 percent, up from 3.7 percent in November and down from 4.1 percent in December 2017.
Total nonagricultural payroll employment grew by 20,400 jobs, or 2.4 percent, between December 2017 and December 2018. Most of the aggregate gains came from the private sector, which was up 19,000 jobs, or 2.9 percent. The public sector was up 1,400 jobs, or 0.7 percent. Growth was reported in both components of the private sector. The private service-providing industries were up 15,400 jobs, or
2.8 percent, while the goods-producing industries were up 3,600 jobs, representing a gain of 3.8 percent. Seven private supersector-level industries added jobs, one lost jobs, and one reported no change from its December 2017 employment level.
Leisure and hospitality employment increased by 8,400 jobs, or 8.7 percent, reporting the largest numeric and percentage increase among all supersector-level industries. Mining and construction employment grew by 3,600 jobs, or 5.3 percent. Within this supersector, most growth occurred in construction, which was up 2,600 jobs, or 5.5 percent; mining was up 1,000 jobs, or 4.7 percent. Professional and business services employment was up 3,400 jobs, or 3.2 percent, over the year. Employment in education and health services increased by 2,100 jobs, or 1.5 percent. Within the supersector, health care and social assistance employment was up 1,900 jobs, or 1.6 percent, while educational services employment was up 200 jobs, or 0.9 percent. Employment in financial activities grew by 1,200 jobs, or 3.4 percent. Trade, transportation, and utilities was up 300 jobs, or 0.2 percent. Within this supersector, employment in transportation, warehousing, and utilities was up 800 jobs, or 3.1 percent; wholesale trade was up 300 jobs, or 1.4 percent; and retail trade reported a loss of 800 jobs, or 0.9 percent. Aggregate manufacturing employment was unchanged from its December 2017 level. Within the supersector, a gain of 400 jobs, or 3.4 percent, in non-durable goods manufacturing was offset by a loss of 400 jobs, or 2.6 percent, in durable goods manufacturing. Employment in miscellaneous other services was up 100 jobs, or 0.4 percent.
Employment in the information industry decreased by 100 jobs, or 0.9 percent, over the year.
Within the public sector, local government was up 2,000 jobs, or 1.9 percent. Within this sector, local government education employment grew by 700 jobs, or 1.3 percent. State government employment decreased by 800 jobs, or 1.4 percent, despite state government education posting a gain of 800 jobs, or 3.2 percent. Federal government reported a gain of 200 jobs, or 0.7 percent.
Detailed analysis will be provided in the Labor Market Review scheduled for release on January 25.