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NM jobless rate unchanged, job growth rate strong

Jacob Auxler coats insulation foam with adhesive while working at the DeAnza Motor Lodge in this file photo.
.Adolphe Pierre-Louis/JOURNAL

ALBUQUERQUE, N.M. — New Mexico’s seasonally adjusted unemployment rate in July was unchanged at 4.9 percent from the previous month and up slightly from 4.8 percent, the same month last year, the Department of Workforce Solutions announced Friday. Journal Staff REPORT

New Mexico’s seasonally adjusted unemployment rate in July was unchanged at 4.9 percent from the previous month and up slightly from 4.8 percent, the same month last year, the Department of Workforce Solutions announced Friday.

The national jobless rate in July was 3.7 percent, unchanged from June 2019 and down from 3.9 percent in July 2018.

New Mexico’s total nonagricultural payroll employment jumped by 21,700 jobs, or 2.6 percent, between July 2018 and July 2019, with the vast majority of jobs, 18,700, gained in the private sector.

Major bumps occurred: in leisure and hospitality, 6,900 jobs, or 6.8 percent and in mining and construction,with 6,400 new jobs, or 8.9 percent, the department said in a news release. Mining includes the state’s oil and gas industries.

New Mexico job growth rate at 2.6 percent outpaced the U.S. job growth rate of 1.5 percent, Gov. Michelle Lujan Grisham noted in a statement.

“I’m thrilled by the state job growth report once again,” she said. “We’re seeing more and more companies … recognizing this is the place to be and investing in our state. There’s more to do, but we’re laying a foundation for even stronger growth moving forward.”

Other sectors showing growth, according to the release, included: professional and business services employment up 3,700 jobs; education and health services increased by 2,600 jobs; educational services employment up 700 jobs; financial activities reported a gain of 1,100 jobs; manufacturing employment was up 400 jobs.

Trade, transportation, and utilities was down 2,100 jobs, or 1.5 percent.

In the public sector, local government employment grew by 2,900 jobs, or 3.1 percent. Most gains came from local government excluding education, which was up 2,500 jobs, or 4.8 percent.

 

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