Other Metro Areas Are Surging
Third-Worst Growth In Region
The Albuquerque metropolitan area’s economy continues to lag far behind the economies of other metro areas in the region.
In the year that ended April 30, the area added 1,900 jobs, for a 0.5 percent growth rate, which was the third worst of nine major metros in the region.
Only Tucson and Oklahoma City, which had respective growth rates of 0.2 and 0.4 percent, fared worse.
Albuquerque’s 1,900 additional jobs figure was swamped by the 48,800 jobs the Phoenix area added, and the 31,000 that Las Vegas added.
The good news for the four-county Albuquerque region was that despite the small number of jobs added, the growth occurred in eight of 10 industrial sectors. Only the manufacturing and professional and business services sectors lost jobs.
The Albuquerque area has yet to regain all the jobs it lost during the recession. the pre-recession jobs level peaked at 407,700 in December 2007. As of the end of April, the area had 390,700 jobs.
The area’s unemployment rate in April was 5.6 percent, down from 6 percent in March.