County unemployment down from October

QCS Staff

Quay County’s unemployment rate for the month of November was 5.6 percent, down from 5.9 percent in October and 6.2 percent in November 2012, according to the New Mexico Dept. of Workforce Solutions.

Quay County’s labor force was 3,729 in November 2013, compared with 3,733 in October and 3,799 in November 2012. Labor force consists of persons either working or looking for jobs.

New Mexico’s seasonally adjusted unemployment rate was 6.4 percent in November 2013, down from 6.6 percent in October and also down from 6.7 percent a year ago.

Statewide, the rate of over-the-year job growth, comparing November 2013 with November 2012, was 0.2 percent, representing a gain of 1,700 jobs.

Seven industries added employment and six industries lost jobs in the state.

The largest employment gains were reported in the financial activities industry, adding 2,900 jobs since November of last year.

Employment gains in the professional and business services industry rose to 1,600 jobs, its highest over-the-year increase since 2007.

Retail trade added 1,200 jobs, its largest gain since January 2012. The construction industry added 900 jobs, slowing from previously higher over-the-year growth that exceeded 1,000 in the spring and summer months. Both the mining and leisure and hospitality industries reported a gain of 600 jobs each.

Manufacturing employment declined by 1,300 jobs. The educational and health services industry lost 1,100 jobs. Government employment registered a net loss of 3,300 jobs since last year, with most of these losses reported at the local and federal levels.

Detailed analysis will be provided in the Labor Market Review scheduled for release on Dec. 27.

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