Rates lower than November 2018

The Office of N.M. Gov. Michelle Lujan Grisham released the seasonally adjusted unemployment rate for November 2019 on Dec. 20. The rate of 4.8 percent was unchanged from October and down from the 5.0 percent rate of November 2018. The national unemployment rate in November was 3.5 percent, down from 3.6 percent in October 2019 and down from 3.7 percent in November 2018.

Total nonagricultural payroll employment grew by 16,200 jobs, or 1.9 percent, between November 2018 and November 2019. Gains came from both the public and the private sector. The private sector was up 15,100 jobs, or 2.3 percent. The public sector was up 1,100 jobs, or 0.6 percent. Growth was reported in both components of the private sector.

The private service-providing industries were up 8,100 jobs, or 1.4 percent, while the goods-producing industries were up 7,000 jobs, representing a gain of 7.0 percent. Seven private industries added jobs and two lost jobs.

Mining and construction reported the largest employment increase with a gain of 6,400 jobs, or 8.8 percent. Within mining and construction, construction was up 5,300 jobs, or 11.1 percent. Mining added 1,100 jobs, which represented over-the-year growth of 4.4 percent. Professional and business services employment was up 3,200 jobs, or 3.0 percent.

Leisure and hospitality employment increased by 2,300 jobs, or 2.4 percent. Trade, transportation, and utilities went up 1,100 jobs, or 0.8 percent. Within the industry, transportation, warehousing, and utilities (up 1.5 percent) and retail trade (up 0.4 percent) each added 400 jobs; wholesale trade employment increased by 300 jobs, or 1.4 percent. Financial activities reported a gain of 1,100 jobs, or 3.2 percent.

Employment in education and health services increased by 900 jobs, or 0.6 percent. Within this industry, a loss of 1,500 jobs, or 6.9 percent, in educational services was offset by a gain of 2,400 jobs, or 2.0 percent, in health care and social assistance. Manufacturing employment was up 600 jobs, or 2.2 percent, from its November 2018 level. Within this industry, durable goods manufacturing was up 500 jobs, or 3.3 percent, and non-durable goods manufacturing was up 100 jobs, or 0.8 percent.

Employment in information was down 300 jobs, or 2.5 percent. Employment in miscellaneous other services decreased by 200 jobs, or 0.7 percent.

Within the public sector, local government employment grew by 1,200 jobs, or 1.1 percent. All gains came from local government excluding education, which was up 2,200 jobs, or 4.4 percent. Local government education was down 1,000 jobs, or 1.8 percent. The federal government reported a gain of 600 jobs, or 2.1 percent. State government employment decreased by 700 jobs, or 1.2 percent.

Within state government, state government excluding education was up 600 jobs, or 1.9 percent, with state government education posting a loss of 1,300 jobs, or 5.1 percent.

Data can be found online at: dws.state.nm.us (under “Labor Market Information/Data, Statistics & Dashboards”) and jobs.state.nm.us/analyzer