NM unemployment rate stagnant for fourth month - Albuquerque Journal

NM unemployment rate stagnant for fourth month

For the fourth month in a row, New Mexico’s unemployment rate has remained at 6.2 percent — still among the highest in the nation, according to figures released Friday by the U.S. Labor Department.

The data show that the state’s jobless rate in June remained unchanged from the 6.2 percent reported in March, April, and May of this year. In June of 2015, the rate was 6.6 percent.

The national unemployment rate rose from 4.7 percent to 4.9 percent last month. In June of last year, it was 4.9 percent.

New Mexico is tied for the third-highest unemployment rate in the country, along with Illinois and Louisiana, at 6.2 percent. At last count, New Mexico was the fourth-highest.

Alaska has the highest rate at 6.7 percent, followed by Nevada at 6.4 percent. South Dakota had the lowest unemployment rate in June at 2.7 percent.

In addition to New Mexico, 42 other states and the District of Columbia also saw unemployment rates remain stable between May and June, according to the data. Six states had higher rates, and only one — North Carolina — had a notable decrease.

The unemployment rate in 21 states is now significantly below the national rate of 4.9 percent.

As for job growth, figures from the New Mexico Department of Workforce Solutions also show that the state lost 2,400 jobs between May and June 2016, it added 14,000 jobs over the past year, representing an increase of 1.7 percent.

The job gains were primarily driven by growth in the service industry, particularly education and health services, which was up 9,800 jobs or 7.6 percent over the year. Leisure and hospitality saw an increase of 5,300 jobs or 5.6 percent, the industry’s largest over-the-year gain since 1990.

The mining sector, which includes the oil and gas industries, saw major job losses over the year, contracting by 5,900 jobs or 23.3 percent. Employment declined more modestly in the transportation, manufacturing, information and financial activities sectors.

In Bernalillo County, the state’s most populous county, the unemployment rate in June was 6.1 percent. Luna County had the highest jobless rate at 11.5 percent, while Union County had the lowest at 4.1 percent.

“In this month’s unemployment numbers, we’re really seeing the impact of what’s going on in the oil and gas industry,” said Joy Forehand, deputy cabinet secretary of the New Mexico Department of Workforce Solutions. “But it’s important to look at all the data sets, and the growth of the civillian workforce in particular is looking promising.”

Forehand said the workforce participation rate is at 57.4 percent, the highest it has been since 2015. She also said losses in the goods-producing industries appear to be tapering off, though the trend won’t be clear until the July and August data have been analyzed.

Home » Business » Careers/Jobs » NM unemployment rate stagnant for fourth month


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

1
Looking for a job after 20 years of owning ...
Business Columns
Dear J.T. & Dale: I'm in ... Dear J.T. & Dale: I'm in my 50s and have owned my own business for the past 20 years. The business took a huge ...
2
Biden sees bigger role for US farms due to ...
Careers/Jobs
President Joe Biden vowed to help ... President Joe Biden vowed to help American farmers try to ease a global spike in food prices following Russia's invasion of Ukraine as he ...
3
Yes, employers can change the rules for at-will employees
Business
Dear J.T. & Dale: My company ... Dear J.T. & Dale: My company just announced that they have changed their policy. They announced at the end of last year that they ...
4
US added 428,000 jobs in April despite surging inflation
ABQnews Seeker
America's employers added 428,000 jobs in ... America's employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war ...
5
Employers post record 11.5 million job openings in March
Careers/Jobs
Employers posted a record 11.5 million ... Employers posted a record 11.5 million job openings in March, meaning the United States now has an unprecedented two job openings for every person ...
6
Employee should keep quiet about health info gossip
Business
Dear J.T. & Dale: My boss ... Dear J.T. & Dale: My boss and his family go to the same church that I do. One day after Sunday Mass, I overheard ...
7
In NYC, ads for jobs will have to say ...
Careers/Jobs
Help wanted. The job: putting one ... Help wanted. The job: putting one of the nation's most far-reaching salary disclosure laws into practice. Location: New York City. Just four months ago, ...
8
Retrial begins in Texas for man charged with killing ...
Around the Region
The retrial of a man charged ... The retrial of a man charged with killing 18 older women in the Dallas area over a two-year span began Monday, after the first ...
9
Rail unions refusing advance payments in favor of a ...
Careers/Jobs
All the major railroads now plan ... All the major railroads now plan to offer their employees up to $600 a month in advance of raises they expect to pay once ...