Wednesday, October 28, 2015

Abq, Farmington Dominate Job Growth

The Albuquerque/Farmington metro job growth combo continued to dominate the state in the year from September 2014 to September 2015. The year-on-year switch from recent months is that the rest of the state lost jobs if one subtracts the 8,700 new wage jobs in Albuquerque and Farmington.
The statewide gain was 7,600 jobs, a 0.9% increase that trailed every state in the region except Wyoming, which isn’t quite in the southwest and which lost 0.9% of its jobs. Oklahoma’s 0.1% increase was closed to New Mexico. Job growth in the other states bordering New Mexico was 1.7%, Colorado; 1.9%, Texas; 2.3% Arizona; 3.9% Utah.
The numbers here are not seasonally adjusted.
At 2.1%, Albuquerque’s annual increase of 7,800 jobs was decent on a percentage basis. Farmington’s 900-job increase was 1.8%. The Las Cruces recession continued with a 1,300-job or 1.8% job loss for period. Santa Fe dropped 100 jobs.
The figures were released yesterday in the Labor Market Review newsletter of the Department of Workforce Solutions.
In Albuquerque the big gainers year-over-year were professional and business services (+3,000); construction (+2,000); education and health services (+1,900); and leisure and hospitality (+1,400). Manufacturing, retail and government together lost 800 obs.
For Las Cruces, professional and business services (-700) and construction (-600) explain the job losses. Smaller losses in manufacturing, leisure and hospitality, services and government were offset by gains in education and health services, retail and transportation.
In oil news, employment Lea County employment was down 1,500 for the year.

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