New Mexico’s Unemployment Rate 4.9 Percent In July

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New Mexico’s seasonally adjusted unemployment rate was 4.9 percent in July 2019, unchanged from June 2019 and up from 4.8 percent in the previous year. The national unemployment rate in July was 3.7 percent, unchanged from June 2019 and down from 3.9 percent  in July 2018.

Total nonagricultural payroll employment grew by 21,700 jobs, or 2.6 percent, between July 2018 and July 2019. Large gains came from both the public and the private sector. The private sector was up 18,700 jobs, or 2.8 percent. The public sector was up 3,000 jobs, or 1.7 percent. Growth was reported in both components of the private sector. The private service-providing industries were up 11,900 jobs, or 2.1 percent, while the goods-producing industries were up 6,800 jobs, representing a gain of 6.8 percent. Seven private industries added jobs and two lost jobs.

Leisure and hospitality reported the largest employment increase with a gain of 6,900 jobs, or 6.8 percent. Mining and construction employment increased by 6,400 jobs, or 8.9 percent. Within mining and construction, construction was up 4,200 jobs, or 8.9 percent. Mining added 2,200 jobs, which represented over-the-year growth of 8.8 percent. Professional and business services employment was up 3,700 jobs, or 3.5 percent. Employment in education and health services increased by 2,600 jobs, or 1.9 percent. Most growth in the industry occurred within health care and social assistance, which was up 1,900 jobs, or 1.6 percent; educational services employment was up 700 jobs, or 4.1 percent. Financial activities reported a gain of 1,100 jobs, or 3.2 percent. Manufacturing employment was up 400 jobs, or 1.5 percent, from its July 2018 level. Within this industry, durable goods manufacturing was up 300 jobs, or 1.9 percent, and non-durable goods manufacturing was up 100 jobs, or 0.8 percent. Employment in miscellaneous other services increased by 100 jobs, or 0.3 percent.

Trade, transportation, and utilities was down 2,100 jobs, or 1.5 percent. Within the industry, employment in retail trade decreased by 2,100 jobs, or 2.3 percent; wholesale trade was down 500 jobs, or 2.4 percent; and transportation, warehousing, and utilities reported a gain of 500 jobs, or 2.0 percent. Employment in information was down 400 jobs, or 3.4 percent.

Within the public sector, local government employment grew by 2,900 jobs, or 3.1 percent. Most gains came from local government excluding education, which was up 2,500 jobs, or 4.8 percent. Local government education was up 400 jobs, or 0.9 percent. The spike in local government employment growth is partly due to shifts in seasonality. Federal government reported a gain of 600 jobs, or 2.1 percent. State government employment decreased by 500 jobs, or 1.0 percent. Within state government, state government excluding education was up 1,100 jobs, or 3.6 percent, with state government education posting a loss of 1,600 jobs, or 7.7 percent.

Further analysis will be provided in the Labor Market Review scheduled for release on August 23.

Data can be found online at the following locations: www.dws.state.nm.us (under “Labor Market Information/Data, Statistics & Dashboards”) and www.jobs.state.nm.us/analyzer.