Unemployment rate down slightly from September

QCS Staff

Quay County’s unemployment rate was 5.8 percent for October, down slightly from September’s seasonally adjusted rate of 6 percent, and down seven-tenths of a percentage point from October 2012’s reading 6.5 percent, according to a news release from the New Mexico Dept. of Workforce Solutions.

The county’s labor force in October 2013 stood at 3,817 people, up 100 people from last month’s 3,739 level, and slightly higher than October 2012’s 3,802 reading, according to figures in the news release.

New Mexico’s seasonally adjusted unemployment rate was 6.6 percent in October 2013, down from 6.7 percent in September and also down from 6.8 percent a year ago, the news release said.

Statewide, the rate of over-the-year job growth, comparing October 2013 with October 2012, was 0.2 percent, representing a gain of 1,900 jobs. Eight industries added employment over the year, and five industries lost jobs.

The largest employment gains were reported in the financial activities industry, adding 3,000 jobs since this time last year.

Gains in the leisure and hospitality industry have slowed to 2,200 jobs now that the peak tourism season is over.

Both the construction and retail trade industries reported a gain of 600 jobs each.

The mining industry added 500 jobs, continuing the moderating trend from a previously higher growth rate that was in the thousands, the news release said.

The educational and health services industry lost 1,100 jobs.

Manufacturing employment declined by 900 jobs.

Government employment registered a net loss of 3,100 jobs since last year, with similar-sized losses reported at the federal and local levels, the news release said.

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