Friday, July 25, 2008

Jobs: June

Sorry about the delay in this post. Google went down (Google went down?) just as I was completing it.
The Department of Workforce Solutions slipped their monthly employment news release onto their Web site ( slightly before the work day ended July 25 and just a day later than promised.
The main movement in the numbers was only a tenth of a percentage point, but in the undesired direction. For June, New Mexico's unemployment rate stands at 3.9%, up from 3.8% in May, continuing a trend of increases. The job growth rate was 1% in June, down from 1.1% in May and reversing a several month strong of increases.
At 4%, the employment rate in the Albuquerque metro area beat the state and increased faster, up two tenths of a percentage point from May, For the June over June year, Albuquerque has added 700 jobs for a growth rate of 0.2%. Educational & health services, hardly a proper pillar of an economy, added 1,500 jobs which means that all the other categories together lost 800 jobs.
The unemployment rate the other three metro areas—Santa Fe, Farmington and Las Cruces—increased three tenths of a percentage point from May. The Las Cruces unemployment rate was 4.3% for June with Santa Fe at 3.4% and Farmington at 3.%.
Metro Job growth was:
Albuquerque - 0.2%.
Farmington - 3.6%.
Las Cruces - 1.2%.
Santa Fe - -0.3%.
For the week ending in June 28, 1,104 people filed new claims for unemployment insurance compensation, up 105 from a year ago. For the July 5 week, 960 filed, down 249. (Down for the first time in weeks.) For the July 12 week, 1,273 filed, up 190.

No comments: