New Mexico unemployment rate drops to 6.5 percent

ALBUQUERQUE (AP) – New Mexico’s seasonally adjusted unemployment rate dropped in October to 6.5 percent, down from 6.6 percent in September and below the 6.8 percent rate of October 2013.

State labor officials reported Friday that New Mexico’s economy added 9,100 jobs since October 2013, representing growth of more than 1 percent. The gains in nine economic sectors more than offset losses in four others.

The education and health services sector added 4,900 jobs – more than half of the new positions – while manufacturing lost 2,300 jobs for the biggest loss by one sector.

Other sectors with big gains included financial activities with 2,000 additional jobs and mining and logging with 1,700 jobs.

The state has recorded net job gains since June following eight months of year-over-year job losses.

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