NMDWS News: New Mexico’s Unemployment Rate 4.9 Percent In June
New Mexico’s seasonally adjusted unemployment rate was 4.9 percent in June 2019, down from 5.0 percent in May 2019 and up from 4.8 percent in the previous year. The national unemployment rate in June was 3.7 percent, up from 3.6 percent in May 2019 and down from 4.0 percent in June 2018.
Total nonagricultural payroll employment grew by 15,200 jobs, or 1.8 percent, between June 2018 and June 2019. Most aggregate gains came from the private sector, which was up 13,900 jobs, or 2.1 percent. The public sector was up 1,300 jobs, or 0.7 percent. Growth was reported in both components of the private sector. The private service-providing industries were up 8,400 jobs, or 1.5 percent, while the goods-producing industries were up 5,500 jobs, representing a gain of 5.5 percent. Six private industries added jobs and three lost jobs.
Leisure and hospitality reported the largest employment increase with a gain of 5,300 jobs, or 5.3 percent. Mining and construction employment increased by 5,000 jobs, or 6.9 percent. Within mining and construction, construction was up 3,000 jobs, or 6.3 percent. Mining added 2,000 jobs, which represented over-the-year growth of 8.0 percent. Employment in education and health services increased by 3,400 jobs, or 2.5 percent. Most growth in the industry occurred within health care and social assistance, which was up 3,000 jobs, or 2.5 percent; educational services employment was up 400 jobs, or 2.2 percent. Professional and business services employment was up 2,300 jobs, or 2.2 percent. Financial activities reported a gain of 600 jobs, or 1.8 percent. Manufacturing employment was up 500 jobs, or 1.8 percent, from its June 2018 level. Within this industry, durable goods manufacturing was up 300 jobs, or up 1.9 percent, and non-durable goods manufacturing was up 200 jobs, or up 1.7 percent.
Trade, transportation, and utilities was down 2,000 jobs, or 1.5 percent. Within the industry, employment in retail trade decreased by 1,600 jobs, or 1.8 percent; wholesale trade was down 800 jobs, or 3.8 percent; and transportation, warehousing, and utilities reported a gain of 400 jobs, or 1.6 percent. Employment in each of information, down 4.9 percent, and miscellaneous other services, down 1.9 percent, decreased by 600 jobs.
Within the public sector, local government employment grew by 1,400 jobs, or 1.4 percent. Most gains came from local government excluding education, which was up 1,000 jobs, or 1.9 percent. Local government education was up 400 jobs, or 0.8 percent. Federal government reported a gain of 600 jobs, or 2.1 percent. State government employment decreased by 700 jobs, or 1.3 percent. Within state government, state government excluding education was up 900 jobs, or 2.9 percent, with state government education posting a loss of 1,600 jobs, or 7.5 percent.
Further analysis will be provided in the Labor Market Review scheduled for release on July 26.