NMDWS News:
New Mexico’s seasonally adjusted unemployment rate was 5.8 percent in December, down from 6.2 percent in November and down from 8.6 percent in the previous year.
The national unemployment rate in December was 3.9 percent, down from 4.2 percent in November and down from 6.7 percent in December 2020.
Total nonagricultural payroll employment grew by 52,000 jobs, or 6.7 percent, between December 2020 and December 2021. All gains came from the private sector, which was up 52,900 jobs, or 8.8 percent.
The public sector was down 900 jobs, or 0.5 percent. Most private sector gains were in the private service-providing industries, which were up 43,100 jobs, or 8.4 percent, while the goodsproducing industries were up 9,800 jobs, representing an increase of 11.0 percent.
Eight major industry sectors reported over-the-year job increases:
- Leisure and hospitality experienced the largest employment growth with a gain of 23,300 jobs, or 33.1 percent, compared to the previous year.
- Trade, transportation, and utilities reported an increase of 8,600 jobs, or 6.4 percent. Within the industry, retail trade was up 5,000 jobs, or 5.6 percent; transportation, warehousing, and utilities was up 3,200 jobs, or 12.7 percent; and wholesale trade was up 400 jobs, or 2.0 percent.
- Professional and business services employment grew by 6,200 jobs, or 5.8 percent.
- Mining and construction employment rose by 5,800 jobs, or 9.1 percent. The majority of gains were within the construction industry, which grew by 3,600 jobs, or 7.6 percent. Mining employment was up 2,200 jobs, or 13.4 percent, over the year.
- Employment in manufacturing was up 4,000 jobs, or 15.6 percent. Within this industry, durable goods manufacturing employment was up 2,100 jobs, or 15.8 percent, over the year. Non-durable goods manufacturing was up 1,900 jobs, or 15.4 percent.
- Miscellaneous other services employment increased by 2,300 jobs, or 9.0 percent.
- Employment in education and health services expanded by 2,000 jobs, or 1.5 percent. Within the education and health services industry, educational services was up 2,100 jobs, or 11.4 percent, and health care and social assistance was down 100 jobs, or 0.1 percent.
- Financial activities was up 1,100 jobs, or 3.3 percent. Employment in information was down 400 jobs, or 4.6 percent.
Within the public sector, state government was down 700 jobs, or 1.3 percent. Within state government employment, state government excluding education lost 1,300 jobs, representing a decrease of 4.2 percent. State government education was up 600 jobs, or 2.5 percent.
Federal government reported a loss of 500 jobs, or 1.7 percent, from its employment level in December 2020. Employment in local government was up 300 jobs, or 0.3 percent.
Within local government, local government education was up 800 jobs, or 1.7 percent, and local government excluding education was down 500 jobs, or 1.1 percent.
Further analysis will be provided in the Labor Market Review scheduled for release Feb. 2.