New Mexico’s seasonally adjusted unemployment rate was 3.5% in March, down from 3.6% in February and down from 4.6% in the previous year. The national unemployment rate in March was 3.5%, down from 3.6% in February and down from 3.6% in March 2022.
Total nonagricultural payroll employment grew by 25,300 jobs, or 3%, between March 2022 and March 2023. The majority of gains came from the private sector, which was up 20,400 jobs, or 3.1%. The public sector was up 4,900 jobs, or 2.7%. The majority of private sector gains were in the private service-providing industries, which were up 14,900 jobs, or 2.7%, while the goods-producing industries were up 5,500 jobs, representing an increase of 5.7%.
Within the goods-producing industries, mining and construction employment rose by 4,700 jobs, or 6.8%. The majority of gains were within the mining industry, which grew by 2,600 jobs, or 12.8%. Construction employment was up 2,100 jobs, or 4.3%, over the year. Manufacturing was up 800 jobs, or 2.8%. Within manufacturing, non-durable goods manufacturing was up 1,100 jobs, or 8.6%. Durable goods manufacturing employment was down 300 jobs, or 1.9%.
Within the private service-providing industries, private education and health services was up 6,300 jobs, or 4.5%. Within the private education and health services industry, health care and social assistance was up 5,000 jobs, or 4.2%, and private educational services was up 1,300 jobs, or 6.1%. Professional and business services was up 5,600 jobs, or 4.9%. Leisure and hospitality was up 4,600 jobs, or 5 %. Miscellaneous other services was up 300 jobs, or 1.1%.
Trade, transportation, and utilities was down 1,300 jobs, or 0.9%. Within this industry, transportation, warehousing, and utilities was down 1,000 jobs, or 3.3%; retail trade was down 700 jobs, or 0.8%; and wholesale trade was up 400 jobs, or 2%. Employment in financial activities was down 600 jobs, or 1.7%.
Within the public sector, local government was up 3,900 jobs, or 4.0 percent. Within local government employment, local government education added 2,500 jobs, representing an increase of 4.9 percent. Local government excluding education was up 1,400 jobs, or 3.0 percent. Employment in state government was up 500 jobs, or 0.9 percent. Within state government, all gains were in state government excluding education, which was up 1,100 jobs, or 3.6 percent. Stave government education was down 600 jobs, or 2.4 percent. Federal government was up 500 jobs, or 1.7 percent.
Within the public sector, local government was up 3,900 jobs, or 4%. Within local government employment, local government education added 2,500 jobs, representing an increase of 4.9%. Local government excluding education was up 1,400 jobs, or 3%. Employment in state government was up 500 jobs, or 0.9%. Within state government, all gains were in state government excluding education, which was up 1,100 jobs, or 3.6%. Stave government education was down 600 jobs, or 2.4%. Federal government was up 500 jobs, or 1.7%.
Further analysis will be provided in the Labor Market Review scheduled for release April 28.
Data can be found online at the following locations: https://www.dws.state.nm.us/en-us/Researchers/Data/Employment-Snapshot and www.jobs.state.nm.us/analyzer.
