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Job Growth in New Mexico Report

Job Growth in New Mexico Report

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Published by Pat Davis

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Published by: Pat Davis on May 24, 2012
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09/19/2012

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ProgressNowNM.org
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NALYSISOF
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ROWTHIN
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EXICO
 
NewMexico’syear-over-yearjobgrowthislaggingfarbehindregionalandnationalaverages,accordingtothemostrecentdatafromNewMexico’sDepartmentofWorkforceSolutions(DWS),hittingit’slowestpointinmorethanayearinApril2012whendatashowsthat
just900morepeopleareworkingtodaythanayearago.
Theyear-over-yearjobgrowthratecomparesaspecifictimeperiod(usuallyamonthoraquarter)againstthesameperiodfromthepreviousyearandisknowntobethemosteffectiveindicatorofeconomicperformance.DespiteregularassurancesthatthegovernorisworkingtobringjobstoNewMexico,year-over-yearjobgrowthhasbeendeclininginNewMexicoeverymonthsinceDecember2011andhasnotexceeded0.9%atanypointsinceGovernorSusanaMartineztookofficeinJanuary2011.UsingpreliminaryfiguresfromtheBureauofLaborStatistics,theNewMexicoDepartmentofWorkforceSolutions,aswellasstate-specificdatafromWesternstates,ProgressNowNewMexicocompiledthereportbelow.
 
NewMexico,intotal,hasjust900morepeopleemployedinApril2012thanayearago.
-Source;NMWorkforceSolutions
 
ProgressNowNM.org
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EARIN
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ERSPECTIVE
Overthelast13months(fromApril2011toApril2012),NewMexico’srateofyear-over-yearjobgrowthpeakedinDecember2011at0.9%andhadanaverageof0.36%.Ineverymonthduringthistimespan,NewMexicolaggedbehindthenationalyear-over-yeargrowthaverage,fallingbehindthenationalaveragebyanaverageof0.81%.
Whiletheaverageyear-over-yearmonthlyjobgrowthforWesternstatesin2011was1.46%,NewMexico’s2011averagewasonly0.13%.
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The2011year-over-yearUSaverageofjobgrowthwas1.008%.TheworstmonthsintermsofthedifferencebetweenNewMexico’sjobgrowthandthenationalyear-over-yeargrowthaveragewereApril2011,May2011,andApril2012.April2011sawNewMexicofall1.4%behindthenationalaveragewhileinMay2011thedifferencewas1.5%andinApril2012thedifferencewas1.3%.ComparedtoWesternstates,NewMexicoalsotrailedinyear-over-yearjobgrowth.FromApril2011toApril2012,theaverageWesternstategrowthwas1.65%whileNewMexicoaveragedjust0.36%.
1
InadditiontoNewMexico,thesestatesincludeUtah,Wyoming,Oklahoma,California,Colorado,Arizona,andNevada.
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    %   o    f    G   r   o   w    t    h
Date
Year-Over-YearJobGrowth
USWestNM

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