New Mexico Overview As the site of rocket experiments, the Manhattan Project and the explosion of the first atomic ...
New Mexico Overview
As the site of rocket experiments, the Manhattan Project and the explosion of the first atomic weapon, New Mexico has been the site of major US science and technology developments. The heavy government and military presence in the state has contributed to relatively stable job and economic conditions for New Mexico's 930,000 workers. In addition, rich energy resources and manufacturing capabilities are being leveraged to create jobs in New Mexico.
New Mexico Job Opportunities
New Mexico is home to three Air Force bases, three research universities, three national laboratories, the White Sands Missile Range and Spaceport America -- all of which support jobs in aerospace and aviation, science and technology, and advanced energy.
The government sector accounts for nearly 25 percent of New Mexico jobs, followed by the trade, transportation and utilities and education/health services sectors. While most New Mexico hiring sectors have reported mixed performance in job gains in 2012, education/health services and leisure and hospitality are showing positive job growth.
New Mexico Employment Trends
New Mexico's job conditions have been relatively steady due to the large government presence in the state. The New Mexico unemployment rate, which peaked at 8 percent in mid-2010, had fallen to around 7 percent in early 2012. New Mexico payrolls, which declined during the first half of 2011, expanded during the second half of 2011 and into 2012. Online hiring showed positive momentum in the first half of 2012.
Moody's Analytics forecasts employment in New Mexico to increase 2.1 percent between Q2 2012 and Q2 2013, higher than the 1.3 percent growth expected in the US job supply.