Unemployment always jumps in June as graduates hit the labor force. The seasonally unadjusted unemployment rate, statewide, for the month was 4.5%, up from 3.9% in June 2007. That's an (un)healthy jump, even given the dubious value of unemployment rate numbers. The seasonally adjusted unemployment rate continues up in double digit percentage figures. The June to June increases are:
New Mexico +15.5%; Albuquerque, +18.5%; Santa Fe, +20%; Las Cruces, +13.2%; Rest of the State (NM minus Albuquerque, Las Cruces and Santa Fe), +12.3%.
The seasonally adjusted rate hung under 4% at 3.9%.
Statewide, the labor force grew 11,900 in June, but employment was up only 6,100. Translated, unemployment went 5,800.
For Santa Fe, June should be a month of adding tourism jobs. This year Santa Fe lost 200 wage jobs in June and "employment" dropped 400.
For the Rest of the State, wage jobs grew 2.2% or 6,900. That's 84% of the state's 11,900 new wage jobs created between June 2007 and June 2008.
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