Friday, December 16, 2016

November Provides a Third Month for Job Losses

November was the third consecutive month for wage job losses in New Mexico. The state dropped 2,300 jobs between, or 0.3%, between November 2015 and November 2016.
The Department of Workforce Solutions released the numbers today.
The numbers are preliminary and not seasonally adjusted.
Retail trade was the biggest loser for the November to November year with 5,500 fewer jobs. Mining and logging (oil and gas) lost “only” 5,100 jobs for the period. Local government education (the public schools) added 900 jobs for month but lost 1,100 for the year.
The sector gainers started with education and health services, (aka mostly Medicaid) with 6,000 new jobs, year over year. This performance continues the slowing of the EHS growth pointed out last month.
Professional and business services added 1,800 jobs. Leisure and hospitality added 1,600.
The metro areas appear to have gained employment (slightly different from wage jobs). Thus the rural counties are taking the hit.
We just think we got trouble. Wyoming lost 8,900 jobs, year over year. Its 3.1% loss was ten times the New Mexico drop. Yet Wyoming is going to give the football coach a big raise.

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