New Mexico's seasonally adjusted unemployment rate was 4.4 percent in November, up from 4.3 percent in October and up from 4.0 percent in the previous year.

The national unemployment rate in November was 4.2 percent, up from 4.1 percent in October and up from 3.7 percent in November 2023.

Total nonagricultural payroll employment grew by 12,400 jobs, or 1.4 percent, between November 2023 and November 2024. The majority of gains came from the private sector. The private sector was up 9,400 jobs, or 1.4 percent, while the public sector was up 3,000 jobs, or 1.6 percent. Within the private sector, the private service-providing industries were up 6,200 jobs, or 1.1 percent, while employment in the goods-producing industries was up 3,200 jobs, or 3.0 percent, from the level in November 2023.

Within the goods-producing industries, mining and construction employment increased by 2,600 jobs, or 3.4 percent. Most job gains were in construction, which was up 1,800 jobs, or 3.4 percent, over the year. Employment in the mining industry increased by 800 jobs, or 3.5 percent. Manufacturing was up 600 jobs, or 2.1 percent. Within manufacturing, non-durable goods manufacturing was up 500 jobs, or 3.8 percent. Durable goods manufacturing employment was up 100 jobs, or 0.6 percent.

Within the private service-providing industries, private education and health services experienced a gain of 3,400 jobs, or 2.3 percent.

Within the industry, a loss of 800 jobs, or 3.6 percent, in private educational services was offset by a gain of 4,200 jobs, or 3.4 percent, in health care and social assistance. Leisure and hospitality employment increased by 1,800 jobs, or 1.9 percent. Professional and business services was up 1,300 jobs, or 1.1 percent. Financial activities was up 900 jobs, or 2.6 percent. Miscellaneous other services was up 700 jobs, or 2.5 percent. Information was up 100 jobs, or 1.1 percent. Trade, transportation, and utilities was down 2,000 jobs, or 1.3 percent. Within this industry, transportation, warehousing, and utilities was down 1,200 jobs, or 4.0 percent; wholesale trade was down 500 jobs, or 2.4 percent; and retail trade was down 300 jobs, or 0.3 percent.

Within the public sector, local government was up 1,600 jobs, or 1.5 percent. Within local government employment, local government education added 1,100 jobs, representing an increase of 2.0 percent. Local government excluding education was up 500 jobs, or 1.0 percent. Employment in state government was up 1,500 jobs, or 2.6 percent. Within state government, the majority of gains were in state government education, which was up 1,200 jobs, or 4.8 percent. State government excluding education was up 300 jobs, or 0.9 percent. Federal government was down 100 jobs, or 0.3 percent, from its employment level in November 2023.

Further analysis will be provided in the Labor Market Review scheduled for release Jan. 3.

Data can be found online at the following locations: