NMDWS News:
New Mexico’s seasonally adjusted unemployment rate was 4.2 percent in September, down from 4.4 percent in August and down from 6.2 percent in the previous year.
The national unemployment rate in September was 3.5 percent, down from 3.7 percent in August and down from 4.7 percent in September 2021.
Total nonagricultural payroll employment grew by 31,500 jobs, or 3.8 percent, between September 2021 and September 2022. The majority of gains came from the private sector, which was up 28,900 jobs, or 4.5 percent. The public sector was up 2,600 jobs, or 1.4 percent. Most private sector gains were in the private service-providing industries, which were up 18,900 jobs, or 3.4 percent, while the goods-producing industries were up 10,000 jobs, representing an increase of 10.6 percent.
Within the goods-producing industries, mining and construction employment rose by 7,900 jobs, or 11.8 percent. The majority of gains were within the construction industry, which grew by 5,600 jobs, or 11.6 percent.
Mining employment was up 2,300 jobs, or 12.4 percent, over the year. Manufacturing was up 2,100 jobs, or 7.6 percent. Within manufacturing, durable goods manufacturing employment was up 1,500 jobs, or 9.9 percent, over the year. Non-durable goods manufacturing was up 600 jobs, or 4.8 percent.
Within the private service providing industries, leisure and hospitality experienced a gain of 7,000 jobs, or 7.6 percent. Education and health services was up 6,400 jobs, or 4.6 percent. Within the industry, health care and social assistance was up 3,900 jobs, or 3.3 percent, and educational services was up 2,500 jobs, or 11.8 percent. Professional and business services was up 3,200 jobs or 2.9 percent.
Trade, transportation, and utilities was up 1,400 jobs, or 1.0 percent. Within this industry, retail trade was up 1,400 jobs, or 1.6 percent; wholesale trade was up 400 jobs, or 2.1 percent; and transportation, warehousing, and utilities was down 400 jobs, or 1.5 percent. Miscellaneous other services was up 1,200 jobs, or 4.5 percent. Employment in information was up 200 jobs, or 2.0 percent. Financial activities declined from September 2021. Employment in the industry was down 500 jobs, or 1.5 percent.
Within the public sector, state government was up 2,200 jobs, or 4.1 percent. Within state government employment, state government education added 2,600 jobs, representing an increase of 11.6 percent. State government excluding education was down 400 jobs, or 1.3 percent.
Employment in local government was up 600 jobs, or 0.6 percent. Within local government, local government education was up 400 jobs, or 0.8 percent, and local government excluding education employment increased by 200, or 0.4 percent, from last year. Federal government was down 200 jobs, or 0.7 percent, from last year’s level.
Further analysis will be provided in the Labor Market Review scheduled for release Oct. 28. Data can be found online here and here.