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N.M. Job News: Anemic

Manufacturing continued its decade-long decline by shrinking by 1,100 jobs, or 3.9 percent.

BY DENNIS DOMRZALSKI

New Mexico’s economy had another weak year-over-year monthly performance in November. The state added 3,000 jobs for a 0.4 percent growth rate, which was the second-worst in the region.

Six industry sectors lost jobs and five gained them. The state’s unemployment rate was 6.8 percent in November, the highest in the nation, the U.S. Bureau of Labor Statistics said Friday.

One of the biggest jobs loser was the mining sector, which includes the oil and gas industry. It shed 2,900 jobs, or 10 percent of its workforce. It was the seventh consecutive month of year-over-year job losses for the industry.

Manufacturing continued its decade-long decline by shrinking by 1,100 jobs, or 3.9 percent. Other jobs losers were: construction, minus 200, or 0.7 percent; trade, transportation and utilities, down 1,300, or 0.9 percent; information, down 400, or 3.1 percent; and other services, which declined by 900, or 3.1 percent.

The big gainers were leisure and hospitality, up 3,100 jobs, or 2.2 percent; education and health services, up 2,900, or 2.2 percent; and professional and business services, which grew by 2,800 jobs, or 2.8 percent. Government gained 300 jobs, and financial services added 700.

Here’s a look at the job growth rates of states in the region:

Arizona: +2.5 percent
Colorado: + 1.8 percent
Nevada: +2.5 percent
New Mexico: +0.4 percent
Oklahoma: -0.1 percent
Texas: +1.5 percent
Utah: +3.6 percent

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Dennis Domrzalski is managing editor of ABQ Free Press. Reach him at dennis@freeabq.com.

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The following two tabs change content below.
Dennis Domrzalski is managing editor of ABQ Free Press. Reach him at dennis@freeabq.com.