NMDWS News:
New Mexico’s seasonally adjusted unemployment rate was 3.6 percent in July, up from 3.5 percent in June and unchanged from the rate in the previous year.
The national unemployment rate in July was 3.5 percent, down from 3.6 percent in June and unchanged from the rate in July 2022.
Total nonagricultural payroll employment grew by 26,400 jobs, or 3.1 percent, between July 2022 and July 2023. The majority of gains came from the private sector, which was up 18,300 jobs, or 2.7 percent. The public sector was up 8,100 jobs, or 4.8 percent. The majority of private sector gains were in the private service-providing industries, which were up 11,500 jobs, or 2.0 percent, while the goods-producing industries were up 6,800 jobs, representing an increase of 6.8 percent.
Within the goods-producing industries, mining and construction employment rose by 6,000 jobs, or 8.4 percent. The majority of gains were within the mining industry, which grew by 3,200 jobs, or 15.0 percent. Construction employment was up 2,800 jobs, or 5.6 percent, over the year. Manufacturing was up 800 jobs, or 2.7 percent. Within manufacturing, non-durable goods manufacturing was up 1,000 jobs, or 7.5 percent. Durable-goods manufacturing employment was down 200 jobs, or 1.3 percent.
Within the private service-providing industries, private education and health services was up 7,800 jobs, or 5.7 percent. Within the private education and health services industry, private educational services was up 4,100 jobs, or 24.7 percent, and health care and social assistance was up 3,700 jobs, or 3.1 percent. Leisure and hospitality was up 6,200 jobs, or 6.3 percent. Employment in financial activities was up 200 jobs, or 0.6 percent.
Trade, transportation and utilities was down 1,200 jobs, or 0.8 percent. Within the industry, a gain of 400 jobs, or 1.4 percent, in transportation, warehousing, and utilities was offset by a loss of 1,200 jobs, or 1.3 percent, in retail trade and a loss of 400 jobs, or 2.0 percent, in wholesale trade. Professional and business services was down 700 jobs, or 0.6 percent. Information, down 3.6 percent, and miscellaneous other services, down 1.3 percent, each shed 400 jobs.
Within the public sector, local government was up 5,000 jobs, or 5.5 percent. Within local government employment, local government education added 3,200 jobs, representing an increase of 7.7 percent. Local government excluding education was up 1,800 jobs, or 3.7 percent. Employment in state government was up 2,400 jobs, or 4.9 percent. Within state government, gains were reported in state government education (up 1,500 jobs, or 7.9 percent) and state government excluding education (up 900 jobs or 3.0 percent). Federal government was up 700 jobs, or 2.4 percent.
Further analysis will be provided in the Labor Market Review scheduled for release Aug. 25.
Data can be found online at the following locations: