New Mexico unemployment rate continues to drop, largest monthly decrease of any state

SANTA FE – Gov. Michelle Lujan Grisham and the state Department of Workforce Solutions announced on Friday that New Mexico’s unemployment rate of 4.5% is now the lowest it’s been since September of 2008. While the national unemployment rate decreased by only 0.1%, New Mexico’s rate continued to decrease by 0.4%, the largest decrease of any state in the country this month.

The governor issued the following statement:

“New Mexico’s unemployment rate is now the lowest it’s been in nearly 15 years – that’s a big deal. It’s proof positive that the work my administration has done to support and invest in New Mexico businesses, to attract exciting new companies here, and to grow key economic sectors is yielding real results that make a difference for New Mexico families.

“We continue to see substantial job growth in nearly every sector, from hospitality and retail to construction and manufacturing. And we’re not just creating new jobs – New Mexico workers are also earning the highest average salaries ever. As we continue to expand the state’s workforce by investing in free college and workforce training, creating more opportunities than ever for New Mexico families, our state’s economy is going to continue to improve.”

In addition to being the lowest since September 2008, New Mexico’s unemployment rate is now nearly a full percentage point lower than it was prior to the outset of the COVID-19 pandemic in 2020, underscoring the positive results of the economic investments implemented by Governor Lujan Grisham’s administration.