Friday, August 19, 2016

NM Adds 11,700 Education/Health Jobs. Maybe

If this keeps up, the only people working in New Mexico will be part of the education and health services sector. That’s because the EHS sector added 11,700 jobs between July 2016 and July 2017, the Department of Workforce Solutions reported this afternoon with a straight face. That’s 2,100 more than the seasonally unadjusted wage job growth of 9,600 jobs for the entire state. And that means all the other job sectors sector together lost those 2,100 jobs.
Or not. The DWS release said, “Based on historical seasonal patterns, which have previously shown employment decreases in June and July, these gains are expected to be revised down later.” No DWS estimates appeared for the presumably coming revisions.
The state’s unemployment rate bumped to a seasonally adjusted 6.4%, for third place nationally behind Alaska (6.7%) and Nevada (6.5%). Our unemployment rate increase from 6.2% in June to 6.4% was considered “statistically significant” by the Bureau of Labor Statistics, federal source of the numbers processed by DWS. The labor force grew by 8,500 (encroaching optimism?) to 926,421. The number of wage jobs, seasonally adjusted, grew 7,600 to 830,500.
The mining/logging sector lost 6,600 jobs, year over year. In Lea County, the labor force has dropped 1,200 over the year to 28,291, seasonally unadjusted; employment has dropped 2,000, pushing the unemployment rate to 9.9%.
Manufacturing continued to erode, down another 1,600 jobs to 26,400.
A piece of good news is the 1,900-job increase in professional and business services, pushing the sector total to 102,500. Local government, that engine of growth, added 3,200 jobs, year over year.

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