Unemployment Rate Jumps Half a Point


New Mexico’s unemployment rate stepped up another half a point in December over November. The December unemployment rate was 8.3%. The November rate was 7.8%. The December 2008 rate was 4.7%.

New Mexico lost 26,000 wage jobs during December 2008 to December 2009 year. From November to December, 4,800 seasonally adjusted wage jobs went away. Statewide, there were 817,100 wage jobs in December 2009.

The civilian labor force dropped by only 2,700 year over year. The labor force was 962,200 in December 2009. Of course, this is a net figure with graduating students, for example, entering the labor force and retirees, voluntary or otherwise, leaving the labor force.

Employment, a different figure from wage jobs, was 882,400 in December, a decline of 37,400 from December 2008.

For several months the Department of Workforce Services has offered the notion that New Mexico’s job situation had hit bottom in August. Next week DWS will detailed December numbers for the state and, perhaps, an amended analysis.

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