New Mexico Unemployment
According to the BLS current population survey (CPS), the unemployment rate for New Mexico fell 0.1 percentage points in March 2023 to 3.5%. The state unemployment rate was 0.0 percentage points lower than the national rate for the month. The unemployment rate in New Mexico peaked in May 2020 at 9.3% and is now 5.8 percentage points lower. From a post peak low of 3.4% in August 2022, the unemployment rate has now grown by 0.1 percentage points. You can also see New Mexico unemployment compared to other states.
Unemployment Rate | March 2023 | Month/Month | Year/Year |
---|---|---|---|
National | 3.5% | -0.1 | -0.1 |
New Mexico | 3.5% | -0.1 | -1.1 |
Note: All comparisons are made with March data as April state level unemployment data has not yet been released.
Unemployment Rate: New Mexico, National
Note: Recessions shown in gray
New Mexico Unemployed
The number of people unemployed in New Mexico peaked in May 2020 at 84,579. There are now 50,775 fewer people unemployed in the state. From a recent trough of 31,691 in August 2022, the number of unemployed has now grown by 2,113. New Mexico job growth data is also available.
Unemployed Persons | March 2023 | Month/Month | Year/Year |
---|---|---|---|
New Mexico | 33,804 | -640 | -9,989 |
Number of Unemployed Persons
New Mexico Unemployment History
Date | National Unemployment Rate |
New Mexico Unemployment Rate |
New Mexico Unemployed |
---|---|---|---|
April 2023 | 3.4% | — | — |
March 2023 | 3.5% | 3.5% | 33,804 |
February 2023 | 3.6% | 3.6% | 34,444 |
January 2023 | 3.4% | 3.5% | 33,473 |
December 2022 | 3.5% | 3.5% | 32,785 |
November 2022 | 3.6% | 3.5% | 33,022 |
October 2022 | 3.7% | 3.5% | 33,207 |
September 2022 | 3.5% | 3.5% | 32,721 |
August 2022 | 3.7% | 3.4% | 31,691 |
July 2022 | 3.5% | 3.6% | 34,160 |
June 2022 | 3.6% | 3.9% | 36,563 |
May 2022 | 3.6% | 4.1% | 38,901 |