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NM unemployment lowest since before recession

It’s been nearly a decade.

New Mexico’s unemployment rate for March dipped to 5.6 percent, the lowest level since December 2008. That was just before the full effects of the Great Recession kicked in; by March 2009, the state’s jobless figure had jumped to above 7 percent and then to 8 percent and beyond at the start of 2010.

For March of this year, New Mexico was one of only four states to see any kind of unemployment decrease, although it retained its ranking as the second-worst in the nation, according to federal figures released Friday.

The state’s unemployment rate was 5.8 percent in February. A year ago, it was 6.3 percent, according to the state Department of Workforce Solutions.

Total nonagricultural payroll employment in New Mexico grew by 8,900 jobs, or 1.1 percent, between March 2017 and March 2018. Construction continued its upward climb, with an employment increase of 6.8 percent.

Other states that saw a declining unemployment rate between February and March were Maine, Ohio and Wyoming, according to the U.S. Bureau of Labor Statistics.

Hawaii had the lowest rate in the nation, at 2.1 percent. Alaska continued to have the highest rate at 7.3 percent.

The national unemployment rate was unchanged from February at 4.1 percent.

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