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Sat June 16, 2012
New Mexico Loses Jobs Due To Government Cuts
SANTA FE, N.M. (AP) — New Mexico labor officials say the state has lost 1,500 jobs over the past year, marking the first time in nine months that over-the-year job growth has been negative.
The Department of Workforce Solutions says job growth was negative 0.2 percent in May. That rate followed months of growth that average about 0.5 percent.
Employment has increased in some industries, including leisure and hospitality and mining. Educational and health services led the way with 4,600 jobs more than this time last year.
The government sector was down by 4,000 jobs from last year, marking the largest over-the-year decrease.
New Mexico's seasonally adjusted unemployment rate did drop to 6.7 percent in May, down from 6.9 percent the previous month and 7.5 percent in May 2011.
Copyright 2012 The Associated Press.