August 22, 2023

NM unemployment rate rose slightly in July

Photo Credit: Reinis Traidas cc

New Mexico’s July unemployment rate increased slightly from the numbers in June.

The July unemployment rate in New Mexico was 3.6 percent up from 3.5 percent as reported for June.

The national unemployment rate seasonally adjusted, was 3.5 percent in July down from 3.6 percent in June.

Total nonagricultural payroll employment grew in July by 26,400 jobs between July 2022 and July 2023, according to the Department of Workforce Solutions.

Most of the gains were in the private sector which added 18,300 jobs over the same period of time while the public sector added 8,100 jobs in that time.

Most of the added private sector jobs were in the service-providing industries which added 11,500 jobs over the last year to date. Goods producing industries added 6,800 jobs.

Goods-producing industries include mining, construction and manufacturing.

Service-providing industries include private education, health care, leisure and hospitality.

In the public sector, the state government added 1,500 jobs in state government education and 900 jobs in all other departments. 

The federal government added 700 jobs in New Mexico.

DWS is expected to release the Labor Market Review on Aug. 25 which contains more information about the Jule unemployment data. All current Labor Market Reviews are available on the DWS website.