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Employment News Release August 17, 2012

New Mexico’s seasonally adjusted unemployment rate was 6.6 percent in July 2012, up from 6.5 percent a month earlier, but down from 7.5 percent in July 2011.

The rate of over-the-year job growth, comparing July 2012 with July 2011, was negative 0.4 percent, representing a loss of 2,800 jobs. This was the second consecutive month of decline following ten months of year-over-year growth averaging about 0.4 percent. Employment for July 2012 increased in five industries and decreased in eight.

Educational and health services, up 3,200 jobs, again posted the largest increase, followed closely by leisure and hospitality, up 2,800. The mining industry gained 1,400 jobs, continuing a growth trend that has persisted for more than two years, and manufacturing added 1,000.

Professional and business services shed 4,400 jobs from a year earlier, marking 11 straight months of decreases totaling at least 1,000 jobs. Losses at all three component levels—federal, state, and local—reduced government payrolls by 3,900 jobs, while information and miscellaneous other services each shed 1,000.

Detailed analysis will be provided in the July Labor Market Review, scheduled for release on August 24.

Click here to view the full release.

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