Unemployment drops to 6.4%

NM jobless figure best since 2015 but still 2nd worst in nation

Unemployment in New Mexico ticked down to 6.4 percent in June, a level that hasn’t been seen since January 2015, according to figures released by the Labor Department on Friday.

Over the past year, the number of jobs in the state grew by 19,300 jobs, or 2.3 percent, more than twice as much as the gain in May, the state’s Department of Workforce Solutions said.

New Mexico’s unemployment rate, which was 6.6 percent in May, remained the second-worst in the nation in June, just ahead of Alaska at 6.8 percent.

Colorado and North Dakota tied for the lowest unemployment rate at 2.3 percent.

New Mexico continued to add jobs in private-sector industries, which were up by 3 percent — the largest gain in over a decade, Workforce Solutions said. The state has been trying to diversify its economy and decrease its reliance on government jobs.

The largest numeric increase over the year was among leisure and hospitality jobs, with a gain 7,500 jobs. That was a rise of 7.7 percent, and it was largely due to an unusually large boost between May and June of this year, acccording to Workforce Solutions.

Construction continued booming, showing the largest percentage job gain at 8.1 percent.

Nationwide, the unemployment rate was 4.4 percent, slightly above last month’s 4.3 percent.

Unemployment rates last month fell in 10 states and rose in only two.