NMDWS News:
New Mexico’s seasonally adjusted unemployment rate was 3.5 percent in May, unchanged from the rate in April and down from 4.1 percent in the previous year.
The national unemployment rate in May was 3.7 percent, up from 3.4 percent in April and up from 3.6 percent in May 2022.
Total nonagricultural payroll employment grew by 20,900 jobs, or 2.5 percent, between May 2022 and May 2023. The majority of gains came from the private sector, which was up 16,200 jobs, or 2.4 percent. The public sector was up 4,700 jobs, or 2.6 percent. The majority of private sector gains were in the private service-providing industries, which were up 10,200 jobs, or 1.8 percent, while the goods-producing industries were up 6,000 jobs, representing an increase of 6.1 percent.
Within the goods-producing industries, mining and construction employment rose by 5,200 jobs, or 7.4 percent. The majority of gains were within the mining industry, which grew by 3,300 jobs, or 16.3 percent. Construction employment was up 1,900 jobs, or 3.8 percent, over the year. Manufacturing was up 800 jobs, or 2.8 percent. Within manufacturing, non-durable goods manufacturing was up 1,000 jobs, or 7.6 percent. Durable goods manufacturing employment was down 200 jobs, or 1.3 percent.
Within the private service-providing industries, leisure and hospitality was up 4,800 jobs, or 5.1 percent. Private education and health services was up 4,100 jobs, or 2.9 percent. Within the private education and health services industry, health care and social assistance was up 3,100 jobs, or 2.9 percent and private educational services was up 1,000 jobs, or 4.6 percent. Professional and business services was up 3,100 jobs, or 2.7 percent. Information was up 200 jobs, or 1.9 percent. Miscellaneous other services was up 100 jobs, or 0.4 percent.
Trade, transportation and utilities was down 1,900 jobs, or 1.3 percent. Within this industry, transportation, warehousing and utilities was down 900 jobs, or 3.0 percent; retail trade was down 600 jobs, or 0.6 percent; and wholesale trade was down 400 jobs, or 1.9 percent. Employment in financial activities was down 200 jobs, or 0.6 percent.
Within the public sector, local government was up 2,700 jobs, or 2.8 percent. Within local government employment, local government education added 1,900 jobs, representing an increase of 3.7 percent. Local government excluding education was up 800 jobs, or 1.7 percent. Employment in state government was up 1,500 jobs, or 2.8 percent. Within state government, gains were reported in state government education (up 800 jobs, or 3.4 percent) and state government excluding education (up 700 jobs or 2.3 percent). Federal government was up 500 jobs, or 1.7 percent.
Further analysis will be provided in the Labor Market Review scheduled for release June 23.
Data can be found online at the following locations: