New Mexico’s seasonally adjusted unemployment rate was 3.5 percent in January, unchanged from December and down from 5.4 percent in the previous year. The national unemployment rate in January was 3.4 percent, down from 3.5 percent in December and down from 4.0 percent in January 2022.
Total nonagricultural payroll employment grew by 24,700 jobs, or 3.0 percent, between January 2022 and January 2023. The majority of gains came from the private sector, which was up 20,700 jobs, or 3.2 percent. The public sector was up 4,000 jobs, or 2.3 percent.
Most private sector gains were in the private service-providing industries, which were up 15,000 jobs, or 2.7 percent, while the goods producing industries were up 5,700 jobs, representing an increase of 6.0 percent.
Within the goods-producing industries, mining and construction employment rose by 4,900 jobs, or 7.3 percent. The majority of gains were within the mining industry, which grew by 3,100 jobs, or 15.6 percent. Construction employment was up 1,800 jobs, or 3.8 percent, over the year.
Manufacturing was up 800 jobs, or 2.9 percent. Within manufacturing, non-durable goods manufacturing was up 800 jobs, or 6.3 percent. Durable goods manufacturing employment was unchanged over the year. Within the private service-providing industries, leisure and hospitality was up 5,900 jobs, or 6.6 percent.
Employment in professional and business services increased by 3,600 jobs, or 3.2 percent. Private education and health services experienced a gain of 3,600 jobs, or 2.6 percent. Within the industry, health care and social assistance was up 3,000 jobs, or 2.5 percent, and private educational services was up 600 jobs, or 2.8 percent. Information was up 1,100 jobs, or 11.3 percent.
Trade, transportation, and utilities was up 900 jobs, or 0.6 percent. Within this industry, retail trade was up 700 jobs, or 0.8 percent; wholesale trade was up 200 jobs, or 1.0 percent; and transportation, warehousing, and utilities was unchanged from the previous year’s level. Miscellaneous other services was up 400 jobs, or 1.5 percent.
Employment in financial activities was down 500 jobs, or 1.4 percent.
Within the public sector, local government was up 3,400 jobs, or 3.5 percent. Within local government employment, local government education added 2,600 jobs, representing an increase of 5.2 percent. Local government excluding education was up 800 jobs, or 1.7 percent.
Employment in state government was up 700 jobs, or 1.3 percent. Within state government, all gains were in state government excluding education, which was up 900 jobs, or 2.9 percent. Stave government education was down 200 jobs, or 0.9 percent.
Federal government was down 100 jobs, or 0.3 percent.
Further analysis will be provided in the Labor Market Review scheduled for release March 17.
Data can be found online at the following locations: https://www.dws.state.nm.us/en-us/Researchers/Data/Employment-Snapshot and www.jobs.state.nm.us/analyzer.