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New Mexico posts 9.2% unemployment rate in May

Copyright © 2020 Albuquerque Journal

New Mexico’s unemployment rate dropped slightly in May but remained high even as some workers began to return from layoffs and furloughs associated with the COVID-19 pandemic.

The state posted a seasonally adjusted unemployment rate of 9.2% in June, down from 11.9% a month before, according to a news release from the New Mexico Department of Workforce Solutions.

Still, the state’s May unemployment rate remained much higher than it was a year prior, when New Mexico posted a rate of 4.9%. Total non-agricultural payroll employment fell by 88,100 jobs, or 10.3%, between May 2019 and May 2020.

All nine major industry sectors experienced job losses in the last 12 months, though in six industries the losses were less severe than in April. Leisure and hospitality continued to report the heaviest employment losses, with a drop of 37,900 jobs, or 37.8%, compared to the previous year, the release said.

New Mexico’s unemployment rate remained below the national average for the second straight month. The national unemployment rate in May was 13.3%.

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