Saturday, November 26, 2011

New Mexico, Three Metros Add Jobs. Really!

Wage jobs grew in 39 states between September and October. New Mexico was one of the 39 with 2,100 new wage jobs appearing (on a not seasonally adjusted basis) over the month. That makes for one of the state’s best performances in a long time.

Our wage job total went to 811,800 in October, the Bureau of Labor Statistics reported Tuesday, November 22. The increase from October 2010 was even better—5,000 new jobs, a 0.62% improvement well under one percent, but still the best in a while.

New Mexico scored the nation’s largest drop in unemployment rate, year over year with a two percentage point decline, the BLS said. As noted before, this comes from people leaving the labor force, not from people getting new jobs. The national unemployment rate is 9%. New Mexico is at 6.6%.

Construction, though down 9% over the year, posted a 1,000 job, or 2%, one month increase, again the first in months and month. Construction employed 41,400 across the state in October.

Mining, which includes oil and gas, added 1,800 jobs year over year for 10% (wow, double digits!) growth to 20,700. The sector is small, but it pays well and sends major dollars to the state.

The 6,000 or 7,000 jobs that disappeared a year ago from the professional and business services sector remain gone, statistically anyway. The sector reported 100,500 wage jobs in September 2010 and 94,200 in October 2010. Sector employment has been flat since October 2010 with 93,200 jobs reported in October 2011.

Education and health services continued to add jobs (what else?) with 6,900 new jobs year over year, a 6% increase.

For the metro areas, Albuquerque led with a year over year loss of 1,500 jobs, or 0.4%, the Department of Workforce Services reports. In Albuquerque leisure and hospitality and education and health services each added 1,400 jobs.

Las Cruces showed no change in wage jobs over the October to October year. The private sector gained 800 jobs and government lost 800, DWS said.

Santa Fe added 400 jobs over the year even as government 400 in the state capitol.

For the year Farmington added 1,000 jobs for a nice 2.1% growth. The private sector produced 800 of those jobs.

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