NMDWS News:
New Mexico Department of Workforce Solutions (NMDWS) has announced that the seasonally adjusted unemployment rate was 7.2 percent in August, down from 7.6 percent in July and down from 9.3 percent in the previous year.
The national unemployment rate in August was 5.2 percent, down from 5.4 percent in July and down from 8.4 percent in August 2020.
Total nonagricultural payroll employment grew by 32,800 jobs, or 4.2 percent, between August 2020 and August 2021. All gains came from the private sector, which was up 35,900 jobs, or 5.9 percent.
The public sector was down 3,100 jobs, or 1.8 percent. Most private sector gains were in the private service-providing industries, which were up 32,700 jobs, or 6.4 percent, while the goods-producing industries were up 3,200 jobs, representing an increase of 3.5 percent.
Eight major industry sectors reported over-the-year job increases. Leisure and hospitality experienced the largest employment growth with a gain of 20,500 jobs, or 27.4 percent, compared to the previous year.
Professional and business services employment grew by 5,600 jobs, or 5.3 percent. Employment in education and health services expanded by 3,700 jobs, or 2.8 percent. Within the education and health services industry, educational services was up 3,000 jobs, or 19.9 percent, and health care and social assistance was up 700 jobs, or 0.6 percent.
Trade, transportation, and utilities reported an increase of 2,800 jobs, or 2.1 percent. Within the industry, transportation, warehousing, and utilities was up 1,600 jobs, or 6.6 percent; wholesale trade was up 800 jobs, or 4.0 percent; and retail trade was up 400 jobs, or 0.5 percent. Mining and construction employment rose by 1,700 jobs, or 2.6 percent. All gains were within the construction industry, which grew by 1,800 jobs, or 3.8 percent. Mining employment was down 100 jobs, or 0.6 percent, over the year. Employment in manufacturing was up 1,500 jobs, or 5.5 percent.
Within this industry, the majority of gains occurred in non-durable goods manufacturing, which was up 1,200 jobs, or 9.7 percent. Durable goods manufacturing employment was up 300 jobs, or 2.0 percent, over the year. Miscellaneous other services employment increased by 700 jobs, or 2.6 percent.
Information was up 400 jobs, or 4.9 percent. Employment in financial activities was down 1,000 jobs, or 2.9 percent. Within the public sector, state government was down 2,200 jobs, or 4.2 percent. Within state government employment, state government education lost 1,900 jobs, representing a decrease of 8.8 percent. State government excluding education was down 300 jobs, or 1.0 percent.
Federal government reported a loss of 1,800 jobs, or 5.7 percent, from its employment level in August 2020. Employment in local government was up 900 jobs, or 1.0 percent. Within local government, local government education was down 1,000 jobs, or 2.1 percent, and local government excluding education was up 1,900 jobs, or 4.3 percent.
Further analysis will be provided in the Labor Market Review scheduled for release on September 24. Data can be found online here and here.
