NMDWS News:
The New Mexico Department of Workforce Solutions (NMDWS) has announced that New Mexico’s seasonally adjusted unemployment rate was 5.3 percent in March, down from 5.6 percent in February and down from 7.2 percent in the previous year.
The national unemployment rate in March was 3.6 percent, down from 3.8 percent in February and down from 6.0 percent in March 2021.
Total nonagricultural payroll employment grew by 48,300 jobs, or 6.1 percent, between March 2021 and March 2022. The majority of gains came from the private sector, which was up 43,500 jobs, or 7.0 percent. The public sector was up 4,800 jobs, or 2.7 percent.
Most private sector gains were in the private service-providing industries, which were up 34,600 jobs, or 6.6 percent, while the goods producing industries were up 8,900 jobs, representing an increase of 9.7 percent.
Eight major industry sectors reported over-the-year job increases. Leisure and hospitality experienced the largest employment growth with a gain of 20,100 jobs, or 26.0 percent, compared to the previous year.
Mining and construction employment rose by 6,800 jobs, or 10.4 percent. The majority of gains were within the construction industry, which grew by 5,400 jobs, or 11.4 percent. Mining employment was up 1,400 jobs, or 7.8 percent, over the year.
Trade, transportation, and utilities reported an increase of 5,700 jobs, or 4.3 percent. Within the industry, retail trade was up 3,700 jobs, or 4.2 percent; wholesale trade was up 1,100 jobs, or 5.7 percent; and transportation, warehousing, and utilities was up 900 jobs, or 3.6 percent. Professional and business services employment grew by 4,300 jobs, or 3.9 percent.
Miscellaneous other services, up 8.2 percent, manufacturing, up 7.7 percent, with education and health services up 1.5 percent, each added 2,100 jobs. Within manufacturing, durable goods manufacturing employment was up 1,500 jobs, or 10.1 percent, over the year.
Non-durable goods manufacturing was up 600 jobs, or 4.9 percent. Within the education and health services industry, educational services was up 1,800 jobs, or 9.0 percent, and health care and social assistance was up 300 jobs, or 0.3 percent. Financial activities was up 300 jobs, or 0.9 percent. No major industry sector reported over-the-year losses.
Within the public sector, employment in local government was up 4,100 jobs, or 4.4 percent. Within local government, local government education was up 2,400 jobs, or 4.9 percent, and local government excluding education was up 1,700 jobs, or 3.9 percent.
State government was up 1,000 jobs, or 1.8 percent. Within state government employment, state government education added 2,100 jobs, representing an increase of 8.8 percent. State government excluding education was down 1,100 jobs, or 3.5 percent. Federal government reported a loss of 300 jobs, or 1.0 percent, from its employment level in March 2021.
Further analysis will be provided in the Labor Market Review scheduled for release April 22.
Data can be found online at https://www.dws.state.nm.us/en-us/Researchers/Data/Employment-Snapshot and www.jobs.state.nm.us/analyzer.
