New Mexico unemployment rate drops to 4.7 percent in July
ALBUQUERQUE, N.M. (AP) — The New Mexico unemployment rate is down.
The state Department of Workforce Solutions reported Friday that the seasonally adjusted unemployment rate was 4.7 percent in July, down from 4.9 percent in June.
The department also says the state economy’s total nonagricultural payroll employment in July grew by 17,900 jobs, or 2.2 percent, from July 2017, when the unemployment rate was 6.1 percent.
According to the department, all of the year-over-year employment gain occurred in the private sector. It added 18,300 jobs while the public sector lost 400 jobs.
In the private sector, service-producing industries outpaced goods-producing industries in adding jobs by a nearly 3-to-1 ratio.
Leisure and hospitality was the industry adding the most jobs, with an increase of 6,500.