New Mexico’s seasonally adjusted unemployment rate was 4.7 percent in February, up from 4.5 percent in January and up from 4.1 percent in the previous year. The national unemployment rate in February was 4.4 percent, up from 4.3 percent in January and up from 4.2 percent in February 2025. Total nonagricultural payroll employment grew by 700 jobs, or 0.1 percent, between February 2025 and February 2026.