Wednesday, May 27, 2015

1.5% Job Growth Continues

During April, the New Mexico economy stuck with the 1.5% year-over-year wage job growth rate that appeared in March. April brought 12,600 new jobs over April 2014.
The curious part is that 37%, or 4,900, of the new jobs are in the education and health services sector. The Department of Workforce Solutions did not explain this situation in today’s news release. But this sector depends on others for its business, so something unusual is happening. Medicaid?
Growth came to sectors that are part of the base economy grew including Leisure and hospitality, 2,700; Professional and business services, 1,900; information, 300; manufacturing, 200; and mining, 300. The latter sector’s growth is the slowest since April 2010, the DWS release said, reflecting the slowing in oil deveopment.

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