Job Growth Hits 1.1%. Woo Hoo!

Our year-over-year job growth rate rocketed to 1.1% in October. On a seasonally unadjusted basis, that’s 9,100 more wage jobs over the year between October 2013 and October 2014. Woo hoo!
Mining provided 1,700 of the new jobs, a 6.4% increase and the highest growth rate of the year, said the Department of Workforce Solutions in its release this morning. For October, mining also led the sectors in percentage growth for the year.
Nationally, said the federal Bureau of Labor Statistics in its release, “Regional and state unemployment rates were generally little changed in October.” New Mexico fit that pattern with a seasonally adjusted 6.5% unemployment rate in October, just barely better than the 6.6% in September and 6.8% in October 2013.
Education and health services, the largest “private” employment sector led numerical growth with 4,900 new jobs, year over year. The quotes around “private” come because my guess is that government pays for much (how much?) of the sector. Think Medicare.
E&HS had 129,300 jobs in October.
Finance continued its rapid grow with 2,000 jobs year over year, a 5.9% increase.
Government lost 200 jobs over the year with the losses among the feds. Local government added 200; the state lost 200. Total government jobs dropped below 30,000 to 29,800. Total government employment was 195,900 during October 2014.
Federal employment was 29,000 in March 2005 with total government jobs at 204,400.
Total government employment was 181,700 in October 1999 with the feds at 30,100. The increase since 1999 has come in local government.
Manufacturing continued its disappearing act, down 2,300 jobs of 7.7% for the year. Professional and business services dropped 1,000.