NM Economy Worst in Nation, Again

In the new issue of Department of Workforce Solutions “Labor Market Review” newsletter, DWS’ old words for losing jobs appeared lead headline, which said the state’s “rate of over-the-year job growth, comparing February 2014 with February 2013, was negative 0.2 percent, representing a loss of 1,900 jobs.”
Only on page 16, in a table, did DWS remember to mention that our “growth rate” for the year was the worst in the nation, tied with Kentucky. The news was buried about as deep as it could go without omitting it entirely.
DWS does have a new word for “losing,” as in “losing” jobs (or lost jobs. DWS offers us “contracted,” as in “The Albuquerque MSA total nonfarm employment contracted by 1.2 percent over the year (between February 2013 and February 2014) with a loss of 4,500 jobs.” That means the rest of the state added 2,600 jobs.
Albuquerque’s private sector dropped 3,900 jobs. Government chipped in another 600. The big sector hits in Albuquerque mirrored the statewide results. Professional and business services led with a decline of 1,400 jobs, followed by manufacturing, -1,000; leisure and hospitality, -1,000; and information,-900.
Wage jobs “contracted” in Santa Fe, too, “by 0.3%, representing a loss of 200 jobs.” For Farmington, DWS went with the old standard, “decreased,” to describe the city’s situation of 600 fewer jobs, or 1.2% less, over the year.