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NM Adds 13,800 Jobs; 1.6 Percent Growth Rate

New Mexico's economy added 13,800 jobs in the year that ended May 31, for a 1.6 percent growth rate, according to figures released Friday by the U.S. Bureau of Labor Statistics.

It was one of the best job-growth rates for the state in about a year. But, despite that, the state still has yet to reach its pre-recession jobs levels.

The stare's non-farm payroll jobs peaked at 849,900 in February of 2008. As of May 31, the state had 841,700 jobs.

Eight of New Mexico's major industry sectors added jobs over the year. Two sectors – Information, and Education and Health Services – lost jobs.

The state's unemployment in May was 5.1 percent, and although that was the second-highest in the nation, it was down 1.1 percent from May of 2017 when the jobless rate was 6.2 percent.

And while the 1.6 percent growth rate was decent for New Mexico, it was the second-worst performing economy of any state in the region. Only Oklahoma had a lower job-growth rate: 1.5 percent.

Utah had the highest growth rate at 3.4 percent.

In New Mexico, the Professional and Business Services sector added the most jobs: 3,800. It was followed by Leisure and Hospitality, which grew by 3,400 jobs. Construction gained 2,900 jobs, while Manufacturing grew by 600 jobs.

Here's a look at New Mexico's job totals going back to 2006. As you can see, the state has yet to regain all the jobs it lost during the recession.

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