NMDWS News Release: New Mexico’s Unemployment Rate 5.0 Percent In May
New Mexico’s seasonally adjusted unemployment rate was 5.0 percent in May 2019, unchanged from April 2019 and up from 4.8 percent in the previous year. The national unemployment rate in May was 3.6 percent, unchanged from April 2019 and down from 3.8 percent in May 2018.
Total nonagricultural payroll employment grew by 15,900 jobs, or 1.9 percent, between May 2018 and May 2019. Most aggregate gains came from the private sector, which was up 15,300 jobs, or 2.3 percent. The public sector was up 600 jobs, or 0.3 percent. Growth was reported in both components of the private sector. The private service-providing industries were up 9,400 jobs, or 1.7 percent, while the goods-producing industries were up 5,900 jobs, representing a gain of 6.0 percent. Seven private industries added jobs and two lost jobs.
Mining and construction reported the largest employment increase with a gain of 5,500 jobs, or 7.6 percent. Within mining and construction, mining added 2,800 jobs, which represented over-the-year growth of 11.5 percent. Construction was up 2,700 jobs, or
5.7 percent. Professional and business services employment was up 3,700 jobs, or 3.5 percent. Employment in education and health services increased by 3,600 jobs, or 2.6 percent. Most growth in the industry occurred within health care and social assistance, which was up 3,100 jobs, or 2.6 percent; educational services employment was up 500 jobs, or 2.4 percent. Leisure and hospitality employment increased by 3,500 jobs, or 3.5 percent. Financial activities reported a gain of 600 jobs, or 1.8 percent. Employment in miscellaneous other services increased by 400 jobs, or 1.4 percent. Manufacturing employment was up 400 jobs, or 1.4 percent, from its May 2018 level. Within this industry, durable goods manufacturing (up 1.3 percent) and non-durable goods manufacturing (up 1.7 percent) were each up 200 jobs.
Trade, transportation, and utilities was down 2,100 jobs, or 1.5 percent. Within the industry, employment in retail trade decreased by 1,800 jobs, or 2.0 percent; wholesale trade was down 1,100 jobs, or 5.2 percent; and transportation, warehousing, and utilities reported a gain of 800 jobs, or 3.2 percent. Employment in information was down 300 jobs, or 2.5 percent.
Within the public sector, local government employment grew by 800 jobs, or 0.8 percent. All gains came from local government excluding education, which was up 1.6 percent. Federal government reported a gain of 500 jobs, or 1.7 percent. State government employment decreased by 700 jobs, or 1.3 percent. Within state government, state government excluding education was up 500 jobs, or 1.6 percent, with state government education posting a loss of 1,200 jobs, or 5.2 percent.
Further analysis will be provided in the Labor Market Review scheduled for release on June 28.