ABQ posts 1.5 percent job growth rate

March 28, 2018

The Albuquerque metro area added 4,800 jobs in the year that ended Feb. 28, for a growth rate of 1.5 percent.

 

While that job growth rate was better than it has been in several months, it was still one of the lowest of any major metro area in the region. And, the metro area its 11th year of trying to recover from the recession. As of February, the area still had not recovered all the jobs that were lost during the recession.

 

The area's jobs peaked at 401,700 in December of 2007. As of February, the area had 391,700 jobs, according to the U.S. Bureau of Labor Statistics.

 

Here's how the area's jobs situation looks on a graph:

 

 

 

 

The good news for Albuquerque is that eight of 10 industry sectors added jobs over the year. One sector – Trade, Transportation and Utilities – stayed even, and one – Education and Health Services – shrank by 1.2 percent.

 

The construction sector had the highest growth rate a 9.7 percent; it was followed by Financial Services, which grew by 5.4 percent.

 

Another bright spot was Manufacturing, which grew by 1.3 percent. The sector had been losing jobs for more than a decade before beginning to grow again last last year.

 

 

 

 

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