NMDWS News:

New Mexico’s seasonally adjusted unemployment rate was 7.6 percent in July, down from 7.9 percent in June and down from 12.5 percent in the previous year.

The national unemployment rate in July was 5.4 percent, down from 5.9 percent in June and down from 10.2 percent in July 2020.

Total nonagricultural payroll employment grew by 33,100 jobs, or 4.3 percent, between July 2020 and July 2021. Nearly all gains came from the private sector, which was up 32,500 jobs, or 5.4 percent.

The public sector was up 600 jobs, or 0.4 percent. Most private sector gains were in the private service-providing industries, which were up 30,100 jobs, or 5.9 percent, while the goods-producing industries were up 2,400 jobs, representing an increase of 2.6 percent.

Eight major industry sectors reported over-the-year job increases. Leisure and hospitality experienced the largest employment growth with a gain of 16,400 jobs, or 21.2 percent, compared to the previous year. Professional and business services employment grew by 4,800 jobs, or 4.6 percent.

Employment in education and health services expanded by 4,300 jobs, or 3.3 percent. Within the education and health services industry, educational services was up 3,800 jobs, or 28.1 percent, and health care and social assistance was up 500 jobs, or 0.4 percent.

Trade, transportation, and utilities reported an increase of 3,700 jobs, or 2.8 percent. Within the industry, retail trade was up 1,400 jobs, or 1.6 percent; transportation, warehousing, and utilities was up 1,300 jobs, or 5.4 percent; and wholesale trade was up 1,000 jobs, or 5.1 percent. Miscellaneous other services employment increased by 1,400 jobs, or 5.2 percent.

Manufacturing employment rose by 1,200 jobs, or 4.5 percent. Within this industry, the majority of gains occurred in non-durable goods manufacturing, which was up 1,000 jobs, or 8.3 percent. Durable goods manufacturing employment was up 200 jobs, or 1.4 percent, over the year.

Employment in mining and construction was up 1,200 jobs, or 1.8 percent. All gains were within the construction industry, which grew by 1,600 jobs, or 3.4 percent. Mining employment was down 400 jobs, or 2.3 percent, over the year. Information was up 800 jobs, or 10.4 percent. Employment in financial activities was down 1,300 jobs, or 3.8 percent.

Within the public sector, state government was up 600 jobs, or 1.2 percent. Within state government employment, state government education added 500 jobs, representing an increase of 2.6 percent. State government excluding education was up 100 jobs, or 0.3 percent.

Federal government reported a gain of 500 jobs, or 1.7 percent, from its employment level in July 2020. Employment in local government was down 500 jobs, or 0.6 percent. Within local government, local government education was down 300 jobs, or 0.7 percent, and local government excluding education was down 200 jobs, or 0.4 percent.

Further analysis will be provided in the Labor Market Review scheduled for release on August 27. Data can be found online at the following locations: https://www.dws.state.nm.us/en-us/Researchers/Data/Employment-Snapshot and www.jobs.state.nm.us/analyzer.