New Mexico’s seasonally adjusted unemployment rate was 3.7% in September, unchanged from the rate in August and up from 3.5% in the previous year. The national unemployment rate in September was 3.8%, unchanged from the rate in August and up from 3.5% in September 2022.
Total nonagricultural payroll employment grew by 15,300 jobs, or 1.8%, between September 2022 and September 2023. The majority of gains came from the private sector, which was up 8,500 jobs, or 1.3%. The public sector was up 6,800 jobs, or 3.7%. The majority of private sector gains were in the goods-producing industries which were up 6,900 jobs, representing an increase of 6.8%, while the private service-providing industries were up 1,600 jobs, or 0.3%.
Within the goods-producing industries, mining and construction employment rose by 6,100 jobs, or 8.5%. The majority of gains were within the construction industry, which grew by 3,200 jobs, or 6.4%. Mining employment was up 2,900 jobs, or 13.2%, over the year.
Manufacturing was up 800 jobs, or 2.7%. Within manufacturing, non-durable goods manufacturing was up 900 jobs, or 6.6%. Durable goods manufacturing employment was down 100 jobs, or 0.6%.
Within the private service-providing industries, private education and health services was up 5,400 jobs, or 3.8%. Within the private education and health services industry, health care and social assistance was up 4,100 jobs, or 3.4% and private educational services was up 1,300 jobs, or 6%. Leisure and hospitality was up 5,000 jobs, or 5.2%.
Professional and business services was down 5,600 jobs, or 4.8%. Trade, transportation, and utilities was down 1,300 jobs, or 0.9%. Within the industry, a gain of 900 jobs, or 3.1%, in transportation, warehousing, and utilities was offset by a loss of 1,800 jobs, or 1.9%, in retail trade and a loss of 400 jobs, or 2%, in wholesale trade.
Information was down 1,000 jobs, or 8.9% Employment in financial activities was down 800 jobs, or 2.3%. Miscellaneous other services was down 100 jobs, or 0.4%.
Within the public sector, state government was up 2,700 jobs, or 5%. Within state government employment, state government education added 2,300 jobs, representing an increase of 9.8%. State government excluding education was up 400 jobs, or 1.3%. Employment in local government was up 3,200 jobs, or 3.3%.
Within local government, local government excluding education was up 1,800 jobs, or 3.8%, and local government education up 1,400 jobs, or 2.7%. Federal government was up 900 jobs, or 3.1%.
Further analysis will be provided in the Labor Market Review scheduled for release on Oct. 27.
