New Mexico's economy resumed its sluggish growth rate in July. The state added 8,400 jobs over the year for a 1.3 percent growth rate.
New Mexico’s economy added 8,400 jobs in the year that ended July 30 for a 1.3 percent growth rate, the U.S. Bureau of Labor Statistics said. That was down from the 19,300 jobs added in the year that ended June 30 and a 2.3 percent growth rate.
But from June to July of this year, the state lost 10,000 jobs, according to the BLS’s figures, which were not seasonally adjusted.
As of July, New Mexico’s unemployment rate was 6.3 percent, the third-worst among the states and the District of Columbia. The national jobless rate was 4.3 percent.
Year-over-year for the state, five industry sectors lost jobs and six gained them. The biggest loser was the government sector, which lost 3,100 jobs. The biggest winner was the education and health services sector, which added 3,700 jobs.
Of the states in the region, New Mexico had the second-lowest job growth rate. Only Oklahoma was lower at 1.1 percent. And in terms of actual jobs numbers, New Mexico had the lowest number of jobs added.
New Mexico still hasn’t reached pre-recession jobs levels. The state’s jobs peaked at 849,900 in February of 2008.
Here’s a look at how the states in the region did on a year-over-year basis:
Arizona: +45,000; +1.7 percent
Colorado: +48,000; +1.9 percent
Nevada: +38,400; +2.9 percent
New Mexico +8,400; +1.3 percent
Oklahoma: +18,700; +1.1 percent
Texas: +327,700; +2.5 percent
Utah: +41,300; +2.9 percent