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Revised federal numbers show a few new jobs appearing in New Mexico during 2012. Original reports were of seven consecutive months of losses starting in June.
The losses followed ten months of slight gains. The Bureau of Labor Statistics says the seasonally unadjusted wage job total for January was 793,600. The 3,500 job increase from January 2012 was 0.46 percent.
Reviewing sector performance leaves one wondering about the source of the job growth. Only two sectors showed an increase that might not be a rounding error.
Leisure and hospitality added 2,000 jobs, or 2.4 percent, over the year for a total of 84,000 jobs. The 1,500 job increase in financial activities brought the sector to 33,800 jobs. The increase was 4.6 percent.
New Mexicans’ response to the slightly increasing job totals in 2011 and 2012 was acceleration of what began a year earlier, to leave the state.
The decision to move, to “migrate” in the Census world, is significant and driven by economics, the long term opportunity to work and provide for the family. Pretty sunsets, rich culture, dry climate, even taxes, all are factors in our personal location decisions, but none pay the bills or educate the children.
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