New Mexico Unemployment
According to the BLS current population survey (CPS), the unemployment rate for New Mexico rose 0.1 percentage points in October 2023 to 3.8%. The state unemployment rate was 0.1 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 5.5 percentage points lower. From a post peak low of 3.4% in August 2022, the unemployment rate has now grown by 0.4 percentage points. You can also see New Mexico unemployment compared to other states.
| Unemployment Rate | October 2023 | Month/Month | Year/Year |
|---|---|---|---|
| National | 3.9% | +0.1 | +0.2 |
| New Mexico | 3.8% | +0.1 | +0.3 |
Note: All comparisons are made with October data as November 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 47,585 fewer people unemployed in the state. From a recent trough of 31,691 in August 2022, the number of unemployed has now grown by 5,303. New Mexico job growth data is also available.
| Unemployed Persons | October 2023 | Month/Month | Year/Year |
|---|---|---|---|
| New Mexico | 36,994 | +829 | +3,787 |
Number of Unemployed Persons
New Mexico Unemployment History
| Date | National Unemployment Rate |
New Mexico Unemployment Rate |
New Mexico Unemployed |
|---|---|---|---|
| November 2023 | 3.7% | — | — |
| October 2023 | 3.9% | 3.8% | 36,994 |
| September 2023 | 3.8% | 3.7% | 36,165 |
| August 2023 | 3.8% | 3.7% | 35,840 |
| July 2023 | 3.5% | 3.6% | 34,757 |
| June 2023 | 3.6% | 3.5% | 33,846 |
| May 2023 | 3.7% | 3.5% | 33,588 |
| April 2023 | 3.4% | 3.5% | 33,534 |
| March 2023 | 3.5% | 3.5% | 33,800 |
| February 2023 | 3.6% | 3.6% | 34,444 |
| January 2023 | 3.4% | 3.5% | 33,473 |
| December 2022 | 3.5% | 3.5% | 32,785 |
Department of Numbers
The Department of Numbers contextualizes public data so that individuals can form independent opinions on everyday social and economic matters.
