New Mexico unemployment rate drops to 5.6 percent in March

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ALBUQUERQUE (AP) — New Mexico's unemployment rate is down as state officials report an increase in private sector jobs.

The Department of Workforce Solutions' monthly report released Friday says the state's seasonally adjusted unemployment rate was 5.6 percent in March, down from 5.8 percent in February and 6.3 percent a year ago.

New Mexico's total nonagricultural payroll employment grew by 8,900 jobs between March 2017 and March 2018, for an increase of just over 1 percent.

The year-over-year increase in private sector employment was nearly equally split between service-providing industries and goods-producing industries.

Mining and construction added 3,000 jobs for largest year-over-year jobs increase for an industry, while professional and business services added 1,900 jobs and leisure and hospitality employment increased by 1,900 jobs.

Among other industrials, retail trade lost 1,100 jobs.