Monday, March 18, 2013

Wage Jobs Grow in January Over January 2012

Nothing much happened in the New Mexico economy during 2012, according to the January job numbers released this morning by the federal Bureau of Labor Statistics.
Change in the form of year-over-year job growth is the new element. The seasonally adjusted wage job total for January was 806,400. The 3,100 job increase from January 2012 was 0.39%.
Take away the seasonal adjustment and the January 2013 wage job figure (793,600) is still up 3,500 from the January 2012 figure of 790,100.
The unadjusted increase is 0.44%. With the adjustment it is 0.39%.
Reviewing sector performance leaves one wondering about the source of the job growth, such as it was. Only two sectors showed an increase that might not be a rounding error. Leisure and hospitality added 1,100 jobs on a seasonally adjusted basis, or 1.3%, over the year for a sector total of 85,900 jobs. The 900 job increase in education and health services brought the sector to 122,800 jobs. The increase was 0.74%.

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