Unemployment lowest in state in 31 years

The Associated Press

ALBUQUERQUE — New Mexico’s jobless rate was 3.1 percent in January, which state labor officials say is the lowest since 1976.

The unemployment rate was down from 3.2 percent in December. In January 2007, the state’s jobless rate stood at 3.8 percent.

That’s according to the state Department of Workforce Solutions.

The national unemployment rate in January was 4.9 percent.

However, the state agency says a comparison of January 2008 to January 2007 shows that over-the-year job growth for New Mexico is a half percent — meaning the state added just 4,400 jobs over the period.

Slowing growth is apparent in nearly every sector, but the worst is the goods-producing sector.