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NM unemployment rate drops in August

ALBUQUERQUE, N.M. — New Mexico’s unemployment rate dropped slightly in August, but still remained higher than the national average, according to new federal data.

The U.S. Bureau of Labor Statistics announced preliminary August unemployment rates for all 50 states on Friday. In New Mexico, the seasonally adjusted unemployment rate stood at 11.3% in August, down from 12.7% the month before. Despite the decline, New Mexico’s rate was still significantly higher than the national unemployment rate in August, which stood at 8.4%, according to the BLS.

New Mexico was one of 41 states that recorded a decrease in its unemployment rate from July to August, according to the federal agency.

New Mexico’s August unemployment rate was higher than the rates in all but five states: California (11.4%), Hawaii (12.5%), Nevada (13.2%), New York (12.5%) and Rhode Island (12.8%).

Elsewhere in the Southwest, Arizona’s unemployment rate dropped from 10.7% in July to 5.9% in August, the second-largest decline during that period, according to the BLS.

Colorado’s rate declined from 7.4% in July to 6.7% in August, and Utah’s dropped from 4.5% to 4.1%.

Last August, New Mexico’s unemployment rate stood at 4.8%, according to the federal agency.

The federal unemployment data is largely based on a survey of households, rather than the number of new unemployment claims, according to a news release from the BLS.

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