Friday, October 19, 2012

Double Job Dip Continues

The second dip in New Mexico’s recession continued in September, according to figures released today by the Bureau of Labor Statistics and the New Mexico Department of Workforce Services.

Between September 2011 and last month, the state lost 9,200 wage jobs. The figures are not adjusted for seasonal effects. For the month between August and September, the state gained 6,900 jobs, thanks to a 9,000-job increase in government for the month. Nearly all the government jobs—8,600 in total—were in education, the result of students from prekindergarten to university returning to school. For the year, government lost 5,100 jobs.

The private sector lost 2,100 jobs between August and September and 4,100 year-over-year.

The private sector performance supports the obvious lunacy of the policy demand of the left to raise taxes to keep intact those government jobs.

Among the sectors, professional and business services led the year-over-year losers, down 3,200. The other year-over-year losers were construction, -3,000; information and other services, both down 1,200; financial, -1,000; and retail -500.

Sector winners were leisure and hospitality, up 2,700 for the year, though down 800 from August; and educational and health services, +1,000. The small sectors of mining and manufacturing, both keys to the state’s basic or core economy, added jobs, 900 and 700 respectively.

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