Overall unemployment rate moved up to 4.2% with the biggest shift in Restaurants & Hotels, which gained 400 roles, based on the most recently available information published in August 2022.

Total employment in the Santa Fe, NM market rose by 357 jobs in June and the unemployment rate increased compared to the prior month by 70 bps to 4.2%. The national unemployment rate increased by 46 bps over the same time to 3.8%.

  • Santa Fe, NM unemployment rate is 36 bps above the national rate which is a negative sign.
  • Unemployment in the market is 310 bps below the unemployment rate in the market last year at this time, which is a positive.
  • Average wages (per hour) declined in June versus prior month by -1.2% and are down compared to last year at this time in the market.
Month over Month Unemployment Change
Year over Year Unemployment Change
Santa Fe, NM Unemployment June 2022

For key employment segments of the market, total jobs grew by 0.2% . Key sectors include:

  • Government: 14,300; -100
  • Restaurants & Hotels: 10,800; +400
  • Education & Healthcare: 10,600; -200
  • Transportation & Utilities: 10,000; +100
  • Business Services: 5,600; no change
  • Construction, Mining: 3,400; no change
  • Other Jobs: 3,400; no change
  • Financial Services: 2,200; -100
  • IT & Development: 1,000; no change
  • Manufacturing: 900; no change
Santa Fe, NM Unemployment by Industry June 2022

Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022).  Source: Government data agency and locally acquired statistics.

Note: All reported data is not seasonally adjusted.