More Weak Job Growth For NM

More Weak Job Growth For NM

New Mexico's job growth rate was an anemic 0.8 percent in the year that ended March 31.

New Mexico’s economy added 6,800 jobs in the year that ended March 31 for a 0.8 percent growth rate.

While that was better than the 0.6 percent growth rate in February, it was the second-worst economic performance of states in the region. And the job growth was dwarfed by that in other states, including Arizona and Colorado, which added more than 50,000 jobs each.

New Mexico’s unemployment rate of 6.7 percent in March was the highest in the nation.

Seductions

Seven industry sectors in New Mexico gained jobs, and four lost them over the year.

The biggest loser was the oil and gas industry, which shed 1,400 jobs. It was followed by government, which was down 900 jobs, and manufacturing, which lost 900 jobs.

The education and health services sector continued to drive the state’s economy by adding 3,200 jobs over the year.
The Albuquerque metro area’s economy grew by 0.5 percent, or 2,000 jobs. Las Cruces grew by 1.4 percent and Santa Fe had a 0.2 percent growth rate.
Farmington lost 1,600 jobs for a negative 3.2 percent growth rate.

 

 

 

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

Latest posts by Dennis Domrzalski (see all)