New Mexico’s unemployment rate rose to 4.4% in January, according to the latest data released by the Department of Workforce Solutions. This is an increase from 4.3% in December and 3.8% in the previous January. The national unemployment rate is lower at 4%.
Despite the increase in unemployment, the state saw a growth of 15,300 nonagricultural payroll jobs in January, with the private sector contributing 12,600 of those jobs. The sectors that saw the most job increases were private education and health services, which added 4,100 jobs.
It is important to note that these numbers do not account for the federal job cuts initiated by the Trump administration, which have affected New Mexico’s workforce, given the state’s large federal employment sector. The state has 29,400 federal jobs, 200 fewer than in December 2024 and 500 fewer than in January 2024.
The state government also experienced job growth in January, adding 1,900 jobs, including 500 public education positions. While the rise in unemployment is a concern, the growth in the job market offers some hope for the economy.
As New Mexico continues to navigate the challenges of the current job market, efforts to address unemployment and support job growth will be crucial for the state’s economic recovery.
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