May shows positive job growth in New Mexico

New Mexico
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ALBUQUERQUE, N.M. (KRQE)-After being tied for the second-lowest job growth rate in the Western region, New Mexico has surpassed the national average adding 15,900 jobs between May 2018 and May 2019.

According to Labor Market Information, the U.S. average job growth rate was 1.5% compared to New Mexico’s 1.9% This is the first time New Mexico’s job growth rate surpassed the nation’s since January 2013.

A majority of these jobs came from the private sector, (15,300 jobs) while the remaining 600 jobs were created from the public sector (600). Jobs in mining and construction primarily made up this increase with other significant increases seen in professional and business service, education and health services, and leisure and hospitality.

The seasonally adjusted unemployment rate remained unchanged from April 2019 at 5% in May 2019. This total number of 47,627 is up from the May 2018 unemployment rate of 4.8% or 45,128.

Alaska had the highest unemployment rate at 6.4%. Washington D.C. followed at 5.7% with New Mexico tying for third highest with Mississippi.

In a May meeting, $1,714,233 was approved by the New Mexico Economic Development Department’s Job Training Incentive Program board to support 147 jobs as well as three intern positions with 12 local companies. Rich Global Hemp will move its headquarters to Dona Ana County and is expecting to employ 180 workers.

Intel plans to employ 300 additional workers at its plant in Rio Rancho in 2019 while Affordable Solar Installation will add 22 employees to its workforce in Albuquerque.

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