Staff Reports
New Mexico’s seasonally adjusted unemployment rate was 4.5% in January, up from 4.3% in December, and up from 4.1% in the previous year. The national unemployment rate in January was 4.3%, down from 4.4% in December and up from 4% in January 2025.
Total nonagricultural payroll employment contracted by 1,000 jobs, or 0.1%, between January 2025 and January 2026. The private sector was down 400 jobs, or 0.1%, while the public sector was down 600 jobs, or 0.3%. Within the private sector, the private service-providing industries were up 400 jobs, or 0.1%, while employment in the goods-producing industries was down 800 jobs, or 0.7%, from the level in January 2025.
Three of the nine private industries reported gains compared to employment levels in January 2025. Within the goods-producing industries, manufacturing was down 800 jobs, or 2.8%. Within manufacturing, durable goods manufacturing was down 600 jobs, or 3.8%, and non-durable manufacturing was down 200 jobs, or 1.6%. Mining and construction employment was
unchanged from its level in January 2025. Within mining and construction, a gain of 900 jobs, or 3.7%, in mining was offset by a loss of 900 jobs, or 1.7%, in construction.
Within the private service-providing industries, private education and health services experienced a gain of 2,900 jobs, or 1.9%. Within the industry, most gains were in health care and social assistance, which was up 2,200 jobs, or 1.7%. Private educational services was up 700 jobs, or 3.1%. Trade, transportation, and utilities employment was up 1,700 jobs, or 1.2%. Within this industry, retail trade was up 1,800 jobs, or 1.9%; transportation, warehousing, and utilities was down 100 jobs, or 0.3%; and wholesale trade was unchanged from the previous year’s level. Financial activities was up 200 jobs, or 0.6%. Leisure and
hospitality employment was down 1,600 jobs, or 1.7%. Information was down 1,400 jobs, or 14% percent. Professional and business services was down 1,400 jobs, or 1.2%.
Within the public sector, state government was up 1,800 jobs, or 3.2%. Within state government employment, state government excluding education added 1,500 jobs, representing an increase of 4.5%. State government education was up 300 jobs, or 1.3%. Employment in local government was up 500 jobs, or 0.5%. Within local government, all gains were in local government excluding education, which was up 1,500 jobs, or 3%. Local government education was down 1,000 jobs, or 1.8%. Federa; government was down 2,900 jobs, or 9.9%, from its employment level in January 2025.
Further analysis will be provided in the Labor Market Review scheduled for release on April 13.
