New Mexico Posts Job Gains, Labor Market Mixed in Las Cruces

New Mexico’s job growth, as a whole, expanded at a 2.3% annual rate as of October 2019. However, according to the Federal Reserve Bank of Dallas, Las Cruces, NM, lags behind the state when it comes to job growth. Specifically, the town, which is approximately 20 miles north of El Paso, TX and Juarez, in Mexico, added jobs at a 1.6% annual rate.

Meanwhile, trade through the Port of Santa Teresa totaled $26.2 billion on an annualized basis, a 16.4% increase from a year earlier. Imports were at $14.3 billion, while exports clocked in at $11.9 billion.

Finally, the Dallas Fed noted that, despite softening oil prices, energy activity is experiencing all-time highs in New Mexico. The rig count stood at 112 in October, with oil production at a record high, averaging 936,000 barrels per day in August.

For comments, questions or concerns, please contact Amy Sorter