Thursday, August 25, 2011

State Drops 5,500 Jobs During July

New Mexico lost 5,500 wage jobs during July but still managed to add 3,500 jobs (on a non-seasonally adjusted basis) in the year since July 2010. That’s an increase of less than one half of one percent, a figure known to lay people as “hardly any at all.” On a seasonally adjusted basis, the increase was 2,200.
Today’s report from the Department of Workforce Services could only tout the continuing drop in the unemployment rate. But then DWS fessed up and said, “The recent declines resulted from workers leaving the labor force, not an increase in employment.” The seasonally adjusted report from the Bureau of Labor Statistics, out August 19, shows a 20,800 drop over the year. People did join the labor force during the year and start seeking employment. But 20,800 more people than joined decided they would no longer be with the force.
An even 800,000 people have wage jobs in the state, DWS estimates.
Among the metro areas, Albuquerque remains the black hole with 3,200 wage jobs gone during July and 2,200 for the year. Government was the big loser in Albuquerque, down 6,600, with nearly all the losses coming in education and reflecting summer, I suppose.
Still, down is down in the real world and not the Orwellian “growth” that must be jargon for a lower rate of decline.
Las Cruces lost 300 jobs over the July-to-July year, as did Santa Fe. Farmington added 1,000 jobs.

No comments: