New Mexico added 13,500 wage jobs in the year from December 2013 to December 2014. Not quite the 14,700 jobs that appeared in the year ending in November, but not at all bad considering. The percentage growth was 1.7%.
The Department of Workforce Solutions, which released the figures today, points out that, “Between April and November 2014, job growth improved substantially (from -0.6 percent to 1.8 percent).” The real consideration goes back to the rule that not a trend does one data point make.
Give me an increase for January that remains in the vicinity of the 1.7% year over year growth and perhaps a victory proclamation can be issued. Until then…
Still, the news is not all jolly. New Mexico managed the second largest month over month job decline in December with 1,600 fewer jobs. Our percentage job loss in December (-0.2%) also tied for second with Delaware and Minnesota, according to the federal Bureau of Labor Statistics, which released numbers today.
In case you wondered, DWS in its release talked only about the year-over-year happiness and said nothing about the month-over-month losses.
Gosh.
Not only did we lose jobs between November and December, our unemployment rate dropped from 6.4% in November to 6.1% in December. Interesting trick: Fewer jobs, lower unemployment rate.
More later.
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