Quay County unemployment rate rises almost 2 %

QCS Staff

Quay County’s unemployment rate for June 2014 was 6.6%, up almost two percentage points from May’s rate of 4.70%, but down a half of a percentage point from June 2013’s rate of 7.1 percent, according to a press release from the New Mexico Department of Workforce Solutions.

The county’s labor force was 3,748in June 2014.  Of that number, 3,502 were employed and 246 were not employed. In May,  there were 3,720in the workforce.  Of that total, 3,547 were employed and 173 were unemployed.  In June 2013, the workforce stood at 3,772, of which 3,506 were employed and 266 not employed, the workforce department reported.

Statewide, New Mexico’s seasonally adjusted unemployment rate was 6.5 percent in June 2014, unchanged from May but down from 6.9 percent in June 2013.

The rate of over-the-year job growth, comparing June 2014 with June 2013, was 0.3 percent, representing an increase of 2,500 jobs. Gains in six industries more than offset losses in seven others, pushing growth into positive territory for the first time in nine months, the news release said.  Private sector growth was nearly 1 percent, while government employment was down 1.7 percent.

Education and health services led all industries with an increase of 3,500 jobs, a sharp uptick from May’s year-over-year gain and likely due in part to seasonal variability. Job growth continued to surge in financial activities, up 1,700, and mining, up 1,500, the two industries posting the largest percentage gains over the year, the news release said.

Leisure and hospitality also added 1,500 jobs, while retail trade, up 900, and transportation, warehousing, and utilities, up 500, contributed smaller increases, the news release said.

Government employment fell by 3,200 from a year earlier, with losses at all three component levels: federal, state, and local, the news release said.

Also reporting losses were manufacturing, down 2,000 jobs, miscellaneous other services, down 600, construction, down 500, professional and business services, down 400, information, down 300, and wholesale trade, down 100, the news release said.

 

 

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