Friday, April 22, 2016

ABQ Metro Area Shows Decent Jobs Growth

Finally: First Upswing in Months

BY DENNIS DOMRZALSKI The Albuquerque metro area's economy put in a decent showing in the year that ended March 31 by adding 5,900 jobs for a 1.6 percent growth rate—its strongest performance in months. Six industry sectors gained jobs, three lost them and one had no change. The construction; trade, transportation and utilities; and the manufacturing sectors lost 200 jobs each, according to the U.S. Bureau of Labor Statistics. The education and health services sector continued to drive the area's economy; it added 2,700 jobs for a 4.4 percent growth rate. The leisure and hospitality sector grew by 1,400 jobs, or 3.5 percent. Two of the state's other major metro areas—Santa Fe and Las Cruces—saw job growth over the year. Santa Fe added 1,100 jobs for a 1.8 percent growth rate, while Las Cruces grew by 500 jobs, or 0.7 percent. Farmington, which is heavily reliant upon the natural gas industry, lost 900 jobs for a negative 1.7 percent growth rate. Of the state's four major metro areas, only Las Cruces has passed its pre-recession jobs high point. The Albuquerque area is still down 18,700 jobs from its pre-recession high of 401,500 jobs.      

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