New Mexico’s Unemployment Rate 5.1 Percent In March
New Mexico’s seasonally adjusted unemployment rate was 5.1 percent in March 2019, unchanged from the rate in February 2019 and up from 5.0 percent in the previous year. The national unemployment rate in March was 3.9 percent, down from 4.1 percent in both February 2019 and March 2018.
Total nonagricultural payroll employment grew by 10,300 jobs, or 1.2 percent, between March 2018 and March 2019. All aggregate gains came from the private sector, which was up 11,400 jobs, or 1.8 percent. The public sector was down 1,100 jobs, or 0.6 percent. Growth was reported in both components of the private sector. The private service-providing industries were up 7,100 jobs, or 1.3 percent, while the goods-producing industries were up 4,300 jobs, representing a gain of 4.4 percent. Five private industries added jobs and four lost jobs.
Leisure and hospitality employment increased by 4,500 jobs, or 4.7 percent. Mining and construction employment grew by 4,500 jobs, or
6.4 percent, the largest percentage increase. Within mining and construction, most growth occurred in mining, which was up 2,600 jobs, or 10.9 percent. Construction was up 1,900 jobs, or 4.0 percent. Employment in education and health services increased by 2,400 jobs, or 1.7 percent. Most growth in the industry occurred within health care and social assistance, which was up 1,800 jobs, or 1.5 percent; educational services employment was up 600 jobs, or 2.9 percent. Professional and business services employment was up 2,100 jobs, or
2.0 percent, over the year. Employment in miscellaneous other services increased by 200 jobs, or 0.7 percent.
Trade, transportation, and utilities was down 1,300 jobs, or 1.0 percent. Within the industry, employment in each of retail trade (down
1.0 percent) and wholesale trade (down 4.3 percent) decreased by 900 jobs; transportation, warehousing, and utilities reported a gain of 500 jobs, or 2.0 percent. Employment in information was down 500 jobs, or 4.2 percent. Employment in financial activities decreased by 300 jobs, or 0.9 percent. Aggregate manufacturing employment was down 200 jobs, 0.8 percent, from its March 2018 level. Within this industry, a gain of 100 jobs, or 0.9 percent, in non-durable goods manufacturing was offset by a loss of 300 jobs, or 2.0 percent, in durable goods manufacturing.
Within the public sector, local government employment grew by 500 jobs, or 0.5 percent. Within local government, local government excluding education was up 1,200 jobs, or 2.4 percent; local government education was down 700 jobs, or 1.3 percent. Federal government reported a gain of 100 jobs, or 0.4 percent. State government employment decreased by 1,700 jobs, or 2.9 percent. Within state government, state government excluding education was up 700 jobs, or 2.2 percent, with state government education posting a loss of 2,400 jobs, or 9.0 percent.
Further analysis will be provided in the Labor Market Review scheduled for release on April 26.