During May, the state’s three small metro areas continued the year-over-year job “growth” patterns from April. The big difference was fewer wage jobs (not seasonally adjusted) lost. Las Cruces lost 800 jobs. Farmington dropped 100. Santa Fe added 600 jobs, making a net loss of 300 jobs among the three. During April the three-metro net loss was 900.
Albuquerque added 7,300 jobs during May, or 1.9%, to account for 53% of the statewide gain of 13,800 jobs, or 1.7%.
The state’s 1.7% gain was less than half of Utah’s 3.5% growth. Other states in the region continued well ahead of New Mexico. Colorado, Nevada and Texas all showed 2.8% year-over-year growth with Arizona just behind at 2.6%. Oklahoma tied New Mexico’s 1.7% with Wyoming at 1.5%.
The broad sector growth was discussed in the June 16 post as was the Eddy / Lea County performance. I won’t repeat.
In Albuquerque professional and business services (lawyers, accountants, engineers, landscape architects) led the sector growth with 3,800 new wage jobs or 6.3% growth. That was 52% of Albuquerque’s job growth over the year. The other happy growing sectors were construction (+1,200), financial (+1,100), leisure and hospitality (+1,100), and trade +(600). Education and health services dropped 1,400 jobs.
In Santa Fe, the gainers were miscellaneous other services, up 400, and leisure and hospitality, up 300.
Las Cruces lost 600 government jobs.
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