NMDWS News:
New Mexico’s seasonally adjusted unemployment rate was 4.4 percent in February, unchanged from 4.4 percent in January and up from 3.8 percent in the previous year.
The national unemployment rate in February was 4.1 percent, up from 4.0 percent in January and up from 3.9 percent in February 2024.
Total nonagricultural payroll employment grew by 13,800 jobs, or 1.6 percent, between February 2024 and February 2025. The majority of gains came from the private sector. The private sector was up 11,800 jobs, or 1.7 percent, while the public sector was up 2,000 jobs, or 1.0 percent. Within the private sector, the private service-providing industries were up 4,300 jobs, or 0.7 percent, while employment in the goods-producing industries was up 7,500 jobs, or 7.2 percent, from the level in January 2024.
Five of the nine private industries reported gains compared to employment levels in January 2024. Within the goods-producing industries, mining and construction employment increased by 7,000 jobs, or 9.2 percent. All job gains were in construction, which was up 7,200 jobs, or 13.7 percent, over the year. Employment in the mining industry decreased by 200 jobs, or 0.8 percent. Manufacturing was up 500 jobs, or 1.8 percent. Within manufacturing, durable goods manufacturing was up 400 jobs, or 2.5 percent. Non-durable goods manufacturing employment was up 100 jobs, or 0.8 percent.
Within the private service-providing industries, private education and health services experienced a gain of 4,700 jobs, or 3.2 percent. Within the industry, all gains were in health care and social assistance, which was up 5,100 jobs, or 4.1 percent. Private educational services was down 400 jobs, or 1.8 percent. Financial activities was up 1,100 jobs, or 3.1 percent. Trade, transportation, and utilities employment was up 700 jobs, or 0.5 percent. Within this industry, transportation, warehousing, and utilities was up 400 jobs, or 1.3 percent; retail trade was up 300 jobs, or 0.3 percent; and wholesale trade was unchanged from the previous year’s level.
Information was down 1,200 jobs, or 10.7 percent. Miscellaneous other services was down 400 jobs, or 1.4 percent. Leisure and hospitality employment was down 400 jobs, or 0.4 percent. Professional and business services was down 200 jobs, or 0.2 percent.
Within the public sector, state government was up 1,900 jobs, or 3.3 percent. Within state government employment, state government excluding education added 1,400 jobs, representing an increase of 4.3 percent. State government education was up 500 jobs, or 2.0 percent. Employment in local government was up 900 jobs, or 0.9 percent. Within local government, the majority of gains were in local government education, which was up 700 jobs, or 1.3 percent. Local government excluding education was up 200 jobs, or 0.4 percent. Federal government was down 800 jobs, or 2.7 percent, from its employment level in February 2024.
Further analysis will be provided in the Labor Market Review scheduled for release April 4.
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/.