Tuesday, May 24, 2016

Anemic Jobs Gains for ABQ


The Albuquerque metro area added 4,700 jobs in the year that ended April 30, for a 1.2 percent growth rate. But, it was basically the worst performing economy of 10 major metro areas in the region in terms of the actual number of jobs added. Even Oklahoma City and El Paso added more jobs than did the four-county Albuquerque area. Six industry sectors in the metro area gained jobs and four lost them, according to the U.S. Bureau of Labor Statistics. The biggest job gains came in the education and health services sector, which grew by 3,200 jobs, or 5.2 percent. Next was professional and business services, which gained 1,400 jobs for a 2.5 percent growth rate. The leisure and hospitality sector lost 800 jobs, construction shed 200, and manufacturing fell by 200 jobs. The growth rate, while welcome, lagged behind the 1.6 percent increase the area had in the 12 months that ended March 31 and the 5,900 jobs it added during that time. And it was nothing compared to the 68,800 jobs the Phoenix area added, and the 43,800 gained by the Denver area. Two of the state's three other major metro areas also gained jobs, but not many. Las Cruces added 200 positions for a 0.3 percent growth rate, and Santa Fe grew by 500 jobs, or 0.8 percent. Farmington lost 400 jobs for a negative 0.8 percent growth rate. Here's how Albuquerque compared to other metro areas in the region: Albuquerque: +4,700; +1.2 percent Austin: +38,300; +4 percent Colorado Springs: +7,200; +2.7 percent Denver: +43,800; +3.2 percent El Paso+ 8,900; +3 percent Las Vegas: +20,600; 2.3 percent Oklahoma City: +6,400; +1 percent Phoenix: +68,800; +3.6 percent Salt Lake City: +20,300; +3 percent Tucson: +11,300; +3.1 percent

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