New Mexico joined a select group in October with its year-over-year loss of 2,900 wage jobs, a 0.3% drop. Only four other states lost jobs. Two of the states had statistically significant losses: North Dakota, Wyoming.
Our unemployment rate, 6.7% in October, was the nation’s second highest, just behind Alaska’s 6.8%.
We lost 2,000 jobs between September 2015 and September 2016.
Mining, meaning oil and gas, added 300 jobs between September and October. The October 2015 to October 2016 loss was 6,500 jobs.
Retail trade was the second biggest year-over-year loser, down 2,800 jobs. Wholesale trade lost 900 jobs. Manufacturing dropped 1,400 jobs for the period.
Local government education was down 1,500 jobs for the year after adding 900 jobs during September.
Metro Albuquerque’s labor force increased by around 5,500 during to be 421,000. Employment was up 5,500. Employment also increased in the other three metro areas: Farmington, Las Cruces and Santa Fe.
Details to come November 30.
Friday, November 18, 2016
Thursday, November 17, 2016
Single Family Home Sales Drop From October 2915
The Greater Albuquerque Association of Realtors released the October sale report the tenth. OK, a week late in getting the summary out to you.
There was news. Metro Albuquerque’s long run of monthly year-over-year single family home sales ended in October. Sales for the month were 825 homes, a 44-home, or 5.1%, drop from October 2015. Sales were well down from 969 homes in September, but that has to be the seasonal decline.
The homes the went to closing sold in an average of 54 days, five days faster than a year ago but slower than the 49 days during September and 51 days in October.
Pending sales during October went the other way, rising by five from September to 998 and posting a 152-home, or 19.4%, jump from October 2015.
Both the median and average sales prices were up about three percent from October 2015. The October 2916 median price was $189,000; the average was $218,252. The average price dropped about four percent from August and September when it was about $227,000. The October median price was just below the $190,000 median during August.
There was news. Metro Albuquerque’s long run of monthly year-over-year single family home sales ended in October. Sales for the month were 825 homes, a 44-home, or 5.1%, drop from October 2015. Sales were well down from 969 homes in September, but that has to be the seasonal decline.
The homes the went to closing sold in an average of 54 days, five days faster than a year ago but slower than the 49 days during September and 51 days in October.
Pending sales during October went the other way, rising by five from September to 998 and posting a 152-home, or 19.4%, jump from October 2015.
Both the median and average sales prices were up about three percent from October 2015. The October 2916 median price was $189,000; the average was $218,252. The average price dropped about four percent from August and September when it was about $227,000. The October median price was just below the $190,000 median during August.
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