Friday, July 20, 2012

NM Leads Nation in June Job Loss

Between May and June, what the Bureau of Labor Statistics calls “non-farm payroll employment” dropped 0.5% in New Mexico, which tied for the percentage loss lead with Vermont and Wisconsin. The month-over-month loss was 4,000 jobs. The state also lost 1,700 wage jobs between June 2011 and June 2012.

Wage jobs employed 804,800 New Mexicans during June. Over the month, non-farm payroll employment, also called wage jobs, grew in 29 states and dropped in 21. The BLS released the figures today.

“Employment,” a different measure from wage jobs, dropped 100 from May to be 866,800 without seasonal adjustment. Unemployment grew by 6,400, an event this time of year due to high school and university graduations.

All four state metro areas added employment between June 2011 and June 2012, a highly unusual happening the past few years. The Department of Workforce Services released seasonally unadjusted figures today. Employment in the Albuquerque metro area increased 1,821, year-over-year. Las Cruces employment grew by 1,857. Santa Fe employment was up 1,525. In Farmington, employment grew by 853.

Year-over-year sector seasonally unadjusted performance departed from past trends with 200 more jobs in construction and a nice 1,100-job, or 4%, increase in manufacturing.
Other than that, it was the usual suspects with the usual performance: professional and business services, down 4,100; and information and other services, both down 1,200.

Educational and health services, with 4,300 more wage jobs, as usual led the sectors adding jobs. Leisure and hospitality (i.e., tourism) added 2,100, with mining up 1,600, wholesale trade up 500 and finance up 300.

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