Copyright © 2018 Albuquerque Journal
The Albuquerque area is on a roll.
Unemployment in the area has dropped to 4.2 percent, the number of jobs is growing to nearly the pre-recession peak and the city’s gross receipts tax collections are returning to health.
“The unemployment rate is a good indicator that our economy is slowly gaining momentum, and the people of Albuquerque are better able to find jobs and support their families,” said city Chief Financial Officer Sanjay Bhakta. “Coupled with our growth in GRT, this is good news for Albuquerque’s economy.”
Unemployment in the metro area dropped from 5.7 percent a year ago to 4.2 percent in May, according to the state Department of Workforce Solutions. The last time it was that low was in June 2008.