New Mexico’s Unemployment Rate 5.1% in January

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New Mexico’s Unemployment Rate 5.1% in January

New Mexico Department of Workforce Solutions news:

New Mexico’s seasonally adjusted unemployment rate was 5.1 percent in January 2019, up from 5.0 percent in December and down from 5.2 percent a year ago. The national unemployment rate in January was 4.0 percent, up from 3.9 percent in December and down from 4.1 percent in January 2018.

Total nonagricultural payroll employment grew by 9,200 jobs, or 1.1 percent, between January 2018 and January 2019. All aggregate gains came from the private sector, which was up 10,000 jobs, or 1.6 percent. The public sector was down 800 jobs, or 0.4 percent. Growth was reported in both components of the private sector. The private service-providing industries were up 5,900 jobs, or 1.1 percent, while the goods-producing industries were up 4,100 jobs, representing a gain of 4.3 percent. Five private supersector-level industries added jobs, three lost jobs, and one reported no change from its January 2018 employment level.

Leisure and hospitality employment increased by 5,400 jobs, or 5.7 percent, reporting the largest numeric increase among all supersector- level industries. Mining and construction employment grew by 4,100 jobs, or 6.0 percent with most growth occurring in mining, which was up 3,100 jobs, or 13.5 percent. Construction was up 1,000 jobs, or 2.2 percent. Employment in education and health services increased by 900 jobs, or 0.6 percent. All growth in the industry occurred within health care and social assistance, which was up 0.8 percent; educational services employment was unchanged from its level in January 2018. Professional and business services employment was up 800 jobs, or 0.8 percent, over the year. Employment in miscellaneous other services was up 500 jobs, or 1.8 percent.

Trade, transportation, and utilities was down 1,300 jobs, or 0.9 percent. Within this supersector, employment in retail trade was down 1,300 jobs, or 1.4 percent; wholesale trade was down 400 jobs, or 1.9 percent; and transportation, warehousing, and utilities reported   a gain of 400 jobs, or 1.6 percent. Employment in each of information (down 1.8 percent) and financial activities (down 0.6 percent) decreased by 200 jobs. Aggregate manufacturing employment was unchanged from its January 2018 level. Within this industry, a  gain of 200 jobs, or 1.8 percent, in non-durable goods manufacturing was offset by a loss of 200 jobs, or 1.3 percent, in durable goods manufacturing.

Within the public sector, local government was up 800 jobs, or 0.8 percent, even though local government education employment contracted by 200 jobs, or 0.4 percent. State government employment decreased by 1,400 jobs, or 2.6 percent, with state government education posting a loss of 2,200 jobs, or 9.4 percent. Federal government reported a loss of 200 jobs, or 0.7 percent.

Further analysis will be provided in the Labor Market Review scheduled for release on March 18.

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.

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