Courtesy of New Mexico Department of Workforce Solutions:
New Mexico’s seasonally adjusted unemployment rate was 4.7 percent in July 2018, down from 4.9 percent in June and 6.1 percent a year ago. The national unemployment rate in July was 3.9 percent, down from 4.0 percent in June and 4.3 percent in July 2017.
Total nonagricultural payroll employment grew by 17,900 jobs, or 2.2 percent, between July 2017 and July 2018. All aggregate gains came from the private sector, which was up 18,300 jobs, or 2.8 percent. The public sector was down 400 jobs, or 0.2 percent. Growth was reported in both components of the private sector. The private service-providing industries were up 13,600 jobs, or 2.5 percent, while the goods-producing industries were up 4,700 jobs, representing a gain of 5.0 percent. Seven supersector-level industries added jobs and three lost jobs.
Leisure and hospitality employment increased by 6,500 jobs, or 6.6 percent, reporting the largest numeric increase among all supersector-level industries. Mining and construction employment was up 4,100 jobs, or 6.1 percent. Within this supersector, construction increased by 4,200 jobs, or 9.1 percent, while mining reported a loss of 100 jobs, or 0.5 percent. Professional and business services was up 3,700 jobs, or 3.5 percent. Trade, transportation, and utilities was up 2,400 jobs, or 1.8 percent. Within this supersector, employment in transportation, warehousing, and utilities was up 2,000 jobs, or 8.3 percent; wholesale trade was up 700 jobs, or 3.3 percent; and retail trade reported a loss of 300 jobs, or 0.3 percent. Employment in financial activities grew by 1,400 jobs, or 4.1 percent. Manufacturing was up 600 jobs, or 2.3 percent. Within manufacturing, non-durable goods manufacturing increased by 800 jobs, or 7.0 percent, while durable goods manufacturing was down 200 jobs, or 1.3 percent. Employment in education and health services was up 600 jobs, or 0.4 percent. All gains within the supersector occurred in educational services, which was up 900 jobs, or 5.3 percent. Health care and social assistance employment decreased by 300 jobs, or 0.3 percent.
Employment in the information industry decreased by 900 jobs, or 7.3 percent. Employment in miscellaneous other services was down 100 jobs, or 0.3 percent, from July 2017.
Within the public sector, local government was up 900 jobs, or 1.0 percent. Local government education reported a gain of 600 jobs, or 1.4 percent. Employment in state government decreased by 900 jobs, or 1.8 percent, despite state government education posting a gain of 100 jobs, or 0.5 percent. Federal government reported a loss of 400 jobs, or 1.4 percent.
Detailed analysis will be provided in the Labor Market Review scheduled for release on August 24.