State’s jobless rate down, but still lagging

The jobless rate in New Mexico dipped by 0.1 percent in August to 4.6 percent, the state Department of Workforce Solutions reported Friday, but it remains well above the national unemployment rate of 3.9 percent.

The total number of employed New Mexicans in August stood at 845,200, up by 7,400 since July and by 16,000 from a year ago, the department said.

Tourism-related jobs in leisure and hospitality dropped by 1,500 workers in August but for the year were ahead by 5,500. That sector employed a total 104,500 in August, according to the preliminary numbers.

That yearlong gain was the largest increase in real numbers and percentage of the major “supersector” level industries, Workforce Development said. Supersectors include financial activities, professional and business services, manufacturing, education and health, as well as individual branches of government, among others.

The unemployment rate in the Santa Fe metro area in August was 4.1 percent, based on preliminary data.

A total 71,755 people were employed out of a labor force of 74,791, according to Workforce Solutions.

The Santa Fe jobless rate was unchanged from July but down 1.2 percent from August 2017.

By contrast, the unemployment rate for the Albuquerque metro area was 4.7 percent in August; in Las Cruces, it was 5.3 percent.

Statewide, service-related industries, the largest broad category at 747,400 jobs in August, gained 8,100 positions over July and 12,300 in the previous year.

Within that category, jobs in trade, transportation and utilities, the largest employment supersector in New Mexico, employed a total 138,200 in August, a loss of 100 since July.

Overall, that sector, which includes wholesale and retail trade, transportation, warehousing and utilities, gained 1,400 positions since August 2017.

The state’s construction trades lost 1,500 jobs between July and August, but overall were up by 2,300 since August 2017, the department said.