Albuquerque, NM Jobs Report

May 2020 Jobs Report

Jobs Added

Metro -45,800
  • Month Over Month: -11.5%
  • 3 Month Average: -15,000
  • Year Over Year: -11.8%
State -97,600
  • Month Over Month: -11.3%
  • 3 Month Average: -33,900
  • Year Over Year: -10.4%
National +2,509,000
  • Month Over Month: +1.9%
  • 3 Month Average: -6,517,000
  • Year Over Year: -11.7%

Unemployment Rate

Metro 12.4%
  • Month Over Month: +6.7%
  • 3 Month Average: 7.57%
  • Year Over Year: +8.3%
State 11.4%
  • Month Over Month: +5.2%
  • 3 Month Average: 7.57%
  • Year Over Year: +7.0%
National 13.3%
  • Month Over Month: -1.4%
  • 3 Month Average: 10.8%
  • Year Over Year: +9.7%

This month’s jobs report included an unexpected increase in the unemployment rate. In April, hitting the highest level in BLS monthly survey history in April at 14.7%,  it is now at 13.3%. Most economists were expecting the rate to jump to nearly 20% this month, reflecting those still impacted by the virus. Ahead of the May jobs report, some other surveys showed encouraging drops in new job cuts relative to April, offering some hope for a further easing in payroll declines in the BLS report.

For the survey including the unemployment rate, the Labor Department noted inconsistent classifications of workers due to pandemic-related effects meant the unemployment rate would have been about 3 percentage points higher than was actually reported.

Sector Job Growth from the B.L.S.

Professional & Business Services -3,700
  • Month Over Month: -5.8%
  • 3 Month Average: 62
  • Year Over Year: -6.6%
Education & Health Services -8,700
  • Month Over Month: -13.0%
  • 3 Month Average: 64
  • Year Over Year: -12.3%
Trade, Transportation, & Utilities -5,500
  • Month Over Month: -8.8%
  • 3 Month Average: 61
  • Year Over Year: -9.4%

Industry Job Growth from the B.L.S.

Transportation, Warehousing, & Utilities -500
  • Month Over Month: -4.8%
  • 3 Month Average: 10
  • Year Over Year: -4.8%
Health Care & Social Assistance -10,100
  • Month Over Month: -8.3%
  • 3 Month Average: 119
  • Year Over Year: -7.0%
Administrative & support services +108,700
  • Month Over Month: +1.5%
  • 3 Month Average: 7,854
  • Year Over Year: -16.5%
Temporary help services +39,100
  • Month Over Month: +1.9%
  • 3 Month Average: 2,341
  • Year Over Year: -29.2%
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Metropolitan Month-Over Month Job Growth by Sector

*The following chart displays the latest local job growth by sector compared to the previous month. Note that if a sector experienced losses or flat growth, it will not be displayed as part of the graphic.

BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.

The BLS defines a sector as a subset of the domestic economy and excludes the economic activities of the following: general government, private households, and nonprofit organizations serving individuals. A sector consists of multiple industries.

The BLS defines an industry as a group of establishments that produce similar products or provide similar services. Multiple industries makeup sectors.

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