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ABQ Metro Area Adds 4,900 Jobs Over The Year

ABQ Metro Area Adds 4,900 Jobs Over The Year

The Albuquerque metro area's economy grew modestly in the year that ended July 30.

The Albuquerque area’s economy grew by 4,900 jobs, or 1.3 percent in the year that ended July 30.

The good news is that most of those jobs 4,200 were in the private sector, according to the U.S. Bureau of Labor Statistics.

The bad news is that the area’s manufacturing sector, which has high paying jobs, continued it years-long decline. The sector lost 600 jobs for a negative 3.8 percent growth rate.

But the financial activities sector had its biggest gain in more than 18 years. It gained 1,100 jobs for a 6 percent growth rate.

The state’s other major metro areas didn’t fare as well. Farmington lost 200 jobs for a negative 0.4 percent growth rate.

Las Cruces had no over-the-year growth, and Santa Fe grew by a mere 200 jobs, or 0.3 percent.

Statewide over the year, New Mexico added 8,400 jobs for a 1 percent growth rate. Private sector industries grew by 11,500 jobs, but the government sector lost 3,100 jobs.

Neither the state nor the Albuquerque metro area have yet to reach pre-recession jobs levels.

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

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  • Hank
    August 29, 2017, 2:04 pm

    Big gains in the financial sector. Would that be people working in check cashing shops, pawn shops, title loans?

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