Staff Reports
New Mexico’s seasonally adjusted unemployment rate was 4.8% in March, up from 4.7% in February and up from 4.1% in the previous year. The national unemployment rate in March was 4.3%, down from 4.4% in February and up from 4.2% in March 2025.
Total nonagricultural payroll employment grew by 100 jobs, or less than 0.1%, between March 2025 and March 2026. The private sector was up 900 jobs, or 0.1%, while the public sector was down 1,000 jobs, or 0.5% Within the private sector, the private service-providing industries were up 2,400 jobs, or 0.4%, while employment in the goods-producing industries was down 1,500 jobs, or 1.4%. Two of the nine private industries reported gains compared to employment levels in March 2025.
Within the goods-producing industries, mining and construction was down 1,000 jobs, or 1.3%. Within mining and construction, a gain of 1,300 jobs, or 5.3%, in mining was offset by a loss of 2,300 jobs, or 4.2%, in construction. Manufacturing employment was down 500 jobs, or 1.8%, from its level in March 2025. Within manufacturing, durable goods manufacturing was down 600 jobs, or 3.8%, and non-durable manufacturing was up 100 jobs, or 0.8%.
Within the private service-providing industries, private education and health services experienced a gain of 3,800 jobs, or 2.5%. Within the industry, most gains were in health care and social assistance, which was up 3,200 jobs, or 2.5%. Private educational services was up 600 jobs, or 2.6%. Trade, transportation, and utilities employment was up 2,300 jobs, or 1.6%. Within this industry, retail trade was up 2,200 jobs, or 2.3%; wholesale trade was up 300 jobs, or 1.4%; and transportation, warehousing, and utilities was down 200 jobs, or 0.6%, from the previous year’s level. Professional and business services was
down 1,900 jobs, or 1.6%. Financial activities was down 600 jobs, or 1.7%. Information was down 500 jobs, or 5.4%. Miscellaneous other service was down 400 jobs, or 1.4%. Leisure and hospitality employment was down 300 jobs, or 0.3%.
Within the public sector, state government was up 1,300 jobs, or 2.2%. Within state government employment, state government excluding education added 1,000 jobs, representing an increase of 3%. State government education was up 300 jobs, or 1.2%. Employment in local government was up 400 jobs, or 0.4%. Within local government, all gains were in local government excluding education, which was up 1,500 jobs, or 2.9%. Local government education was down 1,100 jobs, or 2%. Federal
government was down 2,700 jobs, or 9.3%, from its employment level in March 2025.
Further analysis will be provided in the Labor Market Review scheduled for release on May 13.
