Overall unemployment rate moved down to 5.2% , based on the most recently available information published in November 2022.
Total employment in the Farmington, NM market rose by 136 jobs in September and the unemployment rate decreased compared to the prior month by 10 bps to 5.2%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Farmington, NM unemployment rate is 188 bps above the national rate which is a negative sign.
- Unemployment in the market is 200 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 10.2% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs stayed flat. Key sectors include:
- Government: 8,500; no change
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.