Courtesy/NMDWS
STATE News:
The New Mexico Department of Workforce Solutions (NMDWS) has announced that New Mexico’s seasonally adjusted unemployment rate was 4.5 percent in July, down from 4.9 percent in June and down from 7.0 percent in the previous year.
The national unemployment rate in July was 3.5 percent, down from 3.6 percent in June and down from 5.7 percent in July 2021.
Total nonagricultural payroll employment grew by 31,700 jobs, or 3.9 percent, between July 2021 and July 2022. The majority of gains came from the private sector, which was up 31,500 jobs, or 4.9 percent. The public sector was up 200 jobs, or 0.1 percent.
Most private sector gains were in the private service-providing industries, which were up 21,400 jobs, or 3.9 percent, while the goods-producing industries were up 10,100 jobs, representing an increase of 10.6 percent.
Within the goods-producing industries, mining and construction employment rose by 8,000 jobs, or 11.8 percent. The majority of gains were within the construction industry, which grew by 6,700 jobs, or 13.7 percent. Mining employment was up 1,300 jobs, or 6.9 percent, over the year. Manufacturing was up 2,100 jobs, or 7.6 percent.
Within manufacturing, durable goods manufacturing employment was up 1,400 jobs, or 9.2 percent, over the year. Non-durable goods manufacturing was up 700 jobs, or 5.6 percent. Within the private service providing industries, trade, transportation, and utilities was up 2,400 jobs, or 1.8 percent. Within this industry, retail trade was up 1,800 jobs, or 2.0 percent; transportation, warehousing, and utilities was up 800 jobs, or 3.2 percent; and wholesale trade was down 200 jobs, or 1.0 percent.
Professional and business services was up 5,400 jobs or 4.9 percent. Education and health services was up 5,100 jobs, or 3.8 percent. Within the industry, educational services was up 4,300 jobs, or 26.7 percent, and health care and social assistance was up 800 jobs, or 0.7 percent.
Leisure and hospitality experienced a gain of 10,200 jobs, or 10.9 percent, compared to the previous year, while miscellaneous other services was up 200 jobs, or 0.7 percent.
Employment in information and financial activities declined from July 2021; information was down 800 jobs, or 7.3 percent, while financial activities was down 1,100 jobs, or 3.3 percent.
Within the public sector, state government was up 1,000 jobs, or 2.0 percent. Within state government employment, state government education added 1,400 jobs, representing an increase of 7.7 percent. State government excluding education was down 400 jobs, or 1.3 percent. Federal government was down 200 jobs, or 0.7 percent, from last year’s level. Employment in local government was down 600 jobs, or 0.7 percent. Within local government, local government education was down 1,100 jobs, or 2.6 percent, and local government excluding education employment increased by 500, or 1.0 percent, from last year.
Further analysis will be provided in the Labor Market Review scheduled for release on Aug. 26.
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.
Courtesy/NMDWS
Courtesy/NMDWS
