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NM has serious loss of jobs in April

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vetjobsNew Mexico suffered one of the nation’s worst declines in employment between March and April, the federal Bureau of Labor Statistics reported Friday.

BLS said monthly employment declined 0.2 percent. Only Wyoming with a 0.3 percent decline and Maine with a 0.4 percent decline fared worse.

Nationally, unemployment decreased in 43 states. The national unemployment rate was 6.3 percent in April, down from 6.7 percent in March and from 7.5 percent in April 2013.

Economists with the University of New Mexico Bureau of Business and Economic Research told the Journal that the latest numbers, because they are based on household surveys, are unreliable. However, Senior Scientist Jeff Mitchell said, more reliable data provided by employers, while not as current, also show employment is declining.

New Mexico’s seasonally adjusted unemployment rate was 6.8 percent in April 2014, down from 7.0 percent in March 2014 and down from 6.9 percent a year ago, according to the state Department of Workforce Solutions. New Mexico lost 4,400 jobs between April 2013 and last month, DWS reported.

The biggest job losses in the 12-month period occurred in the government sector, down 2,800 jobs. The financial services, retail trade and mining reported the biggest employment gains.

Mitchell said household survey results “have been all over the place. Sometimes they are shocking high, sometimes they are shockingly low. We put little or no credibility in them when we look at them on a month-by-month basis.”

The more accurate Quarterly Census of Employment and Wages can be as much as six months old by the time they are available.

The most recent QCEW data from the fourth quarter of 2013 show employment declined 0.2 percent over the year.

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