Quay County’s unemployment rate for May was 4.6 percent, down from 5 percent in April and from the 5.8 percent unemployment rate recorded in May 2013, according to the New Mexico Department of Workforce Solutions.
The county’s labor force was 3,721 in May, compared with 3,607 in April and 3,553 in May 2013. In May, 173 people were unemployed. In April 180 were unemployed. In May 2013, 218 persons were unemployed.
New Mexico’s seasonally adjusted unemployment rate was 6.5 percent in May 2014, down from 6.8 percent in April 2014 and from 6.9 percent a year ago.
Statewide, the rate of over-the-year job growth, comparing May 2014 with May 2013, was negative 0.1 percent, representing a loss of 600 jobs. Seven industries added employment, and six industries registered losses, the department said.
The largest employment gains were reported in the financial activities and retail trade sectors, each of which added 2,000 jobs since May of 2013. The financial activities sector has seen consistent growth since May 2012, and recent growth has been much higher than that which typically has been reported for the sector. Retail trade continues to be buoyant, with employment gains in May matching those of March, which were the highest gains since February 2008, the department said..
Education and health services continued to expand, adding 1,500 jobs, constituting its largest gain in 12 months. Mining also performed strongly, adding 1,300 jobs, though the growth rate in this sector has been trending downward over the past two years, the department said.
Leisure and hospitality reported a gain of 1,000 jobs. This industry has shown consistent over-the-year growth since October 2010, apart from two months in quarter four of 2013. Gains were also made in “other services” and transportation, warehousing, and utilities, the department said.
Government employment registered a net loss of 2,500 jobs since May of last year, with most of these losses reported at the local and federal levels. The professional and business services industry lost 2,100 jobs. Manufacturing, in its eighteenth month of decline, lost 1,700 jobs. Construction employment fell by 1,500 jobs, , the department said.