Tuesday, June 30, 2015

Violence in NM

We are number nine, says Marketwatch.com. Alaska is no. 1 with 2013 firearm death rate of 19.6 per 100,000.The report was done by http://247wallst.com, which produces lots of lists.

"New Mexico
"2013 firearm death rate: 15.4 per 100,000
"Total firearm deaths 2004-2013: 2,983 (19th lowest)
"Violent crime rate: 613.0 (2nd highest)
"Permit required to buy handgun: No
"Like most states across the country, the largest proportion of gun-related deaths in New Mexico was attributable to suicide. The age-adjusted firearm suicide rate of 10.3 per 100,000 was the ninth highest rate in the country. New Mexico also had the highest death rate by legal intervention — deaths caused by police or other law-enforcement officials — in the country. In general, New Mexico residents were exposed to a large number of crimes. The state reported 613 violent crimes per 100,000 residents, the second highest rate in the country. Low education levels and widespread poverty may partly explain the high gun violence and deaths. Nearly 22% of New Mexico’s population lived in poverty, substantially higher than the national poverty rate of 15.8%. Additionally, only 84.3% of adults had at least a high school diploma, the sixth lowest rate in the country."

Oklahoma is 8th. The other three four-corners stated don't make the top ten.

Sunday, June 28, 2015

Political Correctness at the Folk Art Museum

A couple of minor bones to pick with “The Red That Colored The World,” the excellent current exhibition, through September 6, at the Folk Art Museum in Santa Fe. The red in this case came from the cochineal, a small bug that “lives, breeds and feeds on the pad of prickly pear cactus.” The cochineal was grown in some sort of organized manner and harvested well before the Spanish came. Dried and crushed, it is used in painting and to color cloth. Bone one is with the slight information provided about how the Indians grew the bug. After all, they were in a very low tech environment.
Bones two and three go to political correctness.
A change in the area where the cochineal is found is mentioned and called probably due to climate change (it might have been “possibly). Well, maybe, or maybe not. No proof is offered. Just the gratuitous assertion.
Then a garment of Kit Carson’s is one of the objects in the exhibition. Carson is called “controversial.” The designation, while accurate, I think, has nothing to do with the validity of the Carson object appearing. Nor is it explained. Again, just a gratuitous assertion, a way of slipping in the claim that Carson was a bad guy. It should have been omitted.

Saturday, June 27, 2015

Metro Job Picture Mixed for May

The Farmington recovery rolled on during May with 1,500 new wage jobs from May 2014 to May 2015, a 2.9% increase, according to the details of May job growth released yesterday by the Economic Research and Analysis Bureau of the Department of Workforce Solutions. Metro Albuquerque claimed a decent year-over-year performance as well with a 5,100 job, or 1.3% increase.
The metro job picture remained decidedly mixed with year-over-year losses of 600 jobs, 0.8%, in Las Cruces and, in Santa Fe, a drop of 800 jobs, 1.3%.
Farmington and Albuquerque provided 6,600 of the 8,200 new wage jobs statewide during the period, 1% growth.
In Albuquerque, as with the state, the growth came in professional and business services, +2,300; education and heath services, +1,800; and leisure and hospitality, +1,900. Government in Albuquerque, dropped 100 jobs during the May-to-May year. Albuquerque’s professional and business services sector has report year-over-year gains of more than 2,000 jobs for four months.
The Las Cruces losses were in leisure and hospitality, -300; professional and business services, -500; and manufacturing, down 200.
Construction in Santa Fe lost 500 jobs with another 300 gone in leisure and hospitality.

Friday, June 19, 2015

Less Than Meets the Eye to Job Growth

Those nice 1.5% year-over-year wage job increases are gone, One hopes it is only for the monthly moment. That’s because the sectors growing the fastest bring less to the basic economy that is presumed.
The job growth in May was one percent over May 2014 with 8,200 new jobs statewide, a drop from 1.5% the past couple of months.
The other worrisome point in this corner is that the fastest growing job sector is education and health services. The two sectors are home to what you would expect. Education includes private schools, trade school and automobile driving schools. Health services is doctors, hospitals and child care.
Education and health services produced 5,000 new jobs, year over year, 61% of those 8,200 jobs statewide.
Leisure and hospital, home to much of our tourism, added 1,900 jobs from May 2014 to May 2015. The sector also included the restaurants serving a local customer base, and, therefore depending on other basic industries. The sector brings less than meets the eye to consideration of true economic health.
As does the professional and business services sector which, yes, has the consulting engineers but also has lawyers. The sector’s 1,300 new jobs, year over year, did nudge the job total back past 100,000.
Manufacturing lost 100 jobs over the year while mining showed no change. These two sectors, though small, are the core of the wealth producing economy.
In rural news, the Mora County unemployment rate dropped to 9%, or 190 people, leaving Luna County the only county with unemployment over 10%. Luna’s unemployment rate is 18.1%, or 1,873 people.

Wednesday, June 10, 2015

Abq Homes Sales Continue to Increase

Closed sales of single family detached homes in metro Albuquerque hit 903 units in May, up 13% over May 2014 and an increase of 68%, or 366 units from the winter low in January of 537 closed sales. But it’s hardly been a steady path. The performance for sales closed was the highest since 939 sales closed in July 2013.
The Greater Albuquerque Association of Realtors released the May sales report today. The monthly increases in sales closed during 2015 are: Jan-Feb 17; Feb-March 273; March-April 17; April-May 59.
Pending sales activity suggests further increases in closings. During May pending sales were 1,234 homes, up 54, or five percent from April. Those May pending sales represented a 24% increase from May 2014.
During May an average of 29.1 homes sold each day, an increase of one from April. The homes sold in an average of 62 days, the quickest sales of 2015 and the quickest since July 2014 when the average sales period of 62 days.
All this activity did not bring higher prices to sellers, as compared to 2014. From April, though, prices increased. The average sales price, $218,228, dropped around $5,000 from May 2014, a 2.2% decline. The average price was up $4,200 or four percent from April. The median price, $181,000 increased all of $1,000 from May 2014. The increase was $4,200 or two percent from April. Closing of the sale of three $1 million (plus) homes during May helped the average price.
May provided the highest median price since 2009, and, except for drop from May of 2014, the highest average price since 2009.

Thursday, June 4, 2015

Second in Long Term Unemployed

Economic recovery in New Mexico, such as it is, is uneven, according to figures released yesterday from the Department of Workforce Solutions.
Farmington (+2,200 wage jobs, +4.3%) and Albuquerque (+7,000 jobs, +1.9%) were the winners in the year from April 2014 to April 2015. Santa Fe lost 200 jobs, or -0.7%, for year. Las Cruces was down 200, or -0.3%. The jobs figures are not seasonally adjusted.
As reported previously, the state added 12,600 jobs, year over year. Albuquerque and Farmington accounted for 73% of the new jobs.
Albuquerque’s leading employment sectors were leisure and hospitality and professional and business services, both with 2,000 new jobs. Education and health services followed with 1,700 new jobs. Government added 800 new Albuquerque jobs, split among federal, 100; state, 400; and local 300.
Of the Farmington jobs, 1,900 were in the private sector. DWS does not provide additional Farmington detail.
Education and health services added the most jobs in Las Cruces (+500) and Santa Fe (+300).
In the new issue of its Labor Market Review newsletter, DWS provided a commendable look at the state’s long-term unemployed. The term refers to those unemployed people without a job for 27 weeks or more. We were second nationally with 44.9% long term unemployed in 2014, after only Washington, D.C.
To be counted as unemployed, one must be seeking a job. The long term unemployed figure leaves out those who have dropped from the labor force. We are in the bottom five (or so) in labor force participation.