Lincoln County unemployment drops to 5.4 percent

• State unemployment was unchanged from July at 6.3 percent

Leisure and hospitality, Ruidoso's economic bread and butter, led all industries in New Mexico for employment during the month of August.

The sector gained 4,000 jobs, or 4.0 percent, and aside from an usual spike in June, the gain represents the industry's greatest post-recessionary jump, business editor Joy Forehand of the New Mexico Department of Workforce Solutions stated in her monthly Employment New Release.

Lincoln County posted a big drop in unemployment from 6 percent in July to a preliminary figure of 5.4 percent in August, which compared to a revised 6.1 percent in August 2016. However, the labor force was slightly larger a year ago at 8,967 compared to 8,945 this year. The number of people unemployed in the workforce a year ago stood at 551, but slid to 480 in August.

 New Mexico's seasonally adjusted unemployment was 6.3 percent in August, unchanged from the rate in July and down from 6.8 percent a year ago, Forehand stated. National unemployment stood at 4.4 percent, up from 4.3 percent in July, but down from 4.9 percent in August 2016.

"Total nonfarm employment gains recorded over the last six months have all exceeded anything previously reported since June 2015," she wrote. "This month's boost came entirely from the private sector, which grew by 13,000 jobs or 2.0 percent. Employment in the private service-providing industries increased by 10,500 jobs or 1.9 percent."

Goods producing industries reported their fifth consecutive gain after 23 months in the negative, adding 2,500 jobs, a gain of 2.8 percent, she stated.

Leisure and hospitality has not posted an over-the-year loss since September 2010, Forehand wrote. Construction employment increased by 3,000 jobs or 7 percent, the fifth consecutive month as the fastest growth of any industry.

Smaller gains were reported by education and health services and by transportation, warehousing and utilities.

The wholesale trade reported the largest loss, down 500 jobs, or 2.3 percent, Forehand wrote.

"Losses in mining have flattened over the last five months, after hitting a recent trough of a 6,900 job loss in February 2016.," she wrote. Employment losses in manufacturing have reduced sharply since a major loss of 1,000 jobs October 2016, she reported.

Government employment contracted by 4,400 jobs over the year, representing a loss of 2.4 percent in the public-sector payroll. State government was down 4.1 percent and local government down 2.3 percent, each posting a loss of 2,300 jobs.