New Mexico’s Unemployment Rate 8.2 Percent In April

NMDWS News:

New Mexico Department of Workforce Solutions (NMDWS) reports that New Mexico’s seasonally adjusted unemployment rate was 8.2 percent in April, down from 8.3 percent in March and down from 10.0 percent the previous year.

The national unemployment rate in April was 6.1 percent, up from 6.0 percent in March and down from 14.8 percent in April 2020.

Total nonagricultural payroll employment grew by 30,400 jobs, or 4.0 percent, between April 2020 and April 2021. The shift from an over-the-year loss of 7.9 percent in March (revised) to a gain of 4.0 percent growth in April is mainly due to the impacts of COVID-19 one year ago.

The pandemic led to a 95,200 drop in employment between March 2020 and April 2020. All gains came from the private sector, which was up 39,700 jobs, or 6.9 percent. The public sector was down 9,300 jobs, or 5.0 percent. All private sector gains were in the private service-providing industries, which were up 44,200 jobs, or 9.2 percent, while the goods-producing industries were down 4,500 jobs, representing a decrease of 4.7 percent.

Six major industry sectors reported over-the-year job increases. Leisure and hospitality experienced the largest employment growth with a gain of 23,000 jobs, or 40.0 percent, compared to the previous year. Trade, transportation, and utilities reported an increase of 10,800 jobs, or 8.9 percent. Within the industry, retail trade was up 10,000 jobs, or 12.9 percent; transportation, warehousing, and utilities was up 1,200 jobs, or 4.9 percent; and wholesale trade was down 400 jobs, or 2.0 percent. Employment in education and health services expanded by 6,100 jobs, or 4.7 percent.

Most gains within the education and health services industry were in health care and social assistance, which was up 5,400 jobs, or 4.8 percent. Employment in educational services was up 700 jobs, or 3.7 percent, over the year. Professional and business services employment grew by 4,000 jobs, or 3.9 percent. Miscellaneous other services employment increased by 2,600 jobs, or 11.2 percent. Manufacturing employment rose by 1,200 jobs, or 4.7 percent. Within this industry, all gains occurred in non-durable goods manufacturing, which was up 10.7 percent. Durable goods manufacturing employment was unchanged over the year.

Employment in mining and construction was down 5,700 jobs, or 8.1 percent. The majority of losses in mining and construction came from mining, which contracted by 5,100 jobs, or 23.1 percent. Construction employment was down 600 jobs, or 1.2 percent, over the year. Financial activities was down 1,700 jobs, or 5.0 percent. Information was down 600 jobs, or 7.2 percent.

Within the public sector, the majority of losses came in local government, which was down 8,600 jobs, or 8.5 percent. Within local government employment, local government excluding education shed 5,200 jobs, representing a loss of 10.6 percent. Local government education was down 3,400 jobs, or 6.6 percent. Employment in state government was down 700 jobs, or 1.3 percent. Within state government, all losses came from state government education which was down 1,100 jobs, or 4.4 percent. Employment in state government excluding education was up 400 jobs, or 1.3 percent. Federal government reported no change from its employment level in April 2020.

Further analysis will be provided in the Labor Market Review scheduled for release May 28. Data can be found online here and here.

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