NM unemployment up in October
Posted at: 11/25/2009 11:34 AM
By: The Associated Press
ALBUQUERQUE, N.M. (AP) - New Mexico's jobless rate rose to 7.9 percent in October, up from the 7.7 percent reported the previous month and the 4.5 percent rate in October 2008.
The state's labor department, the Department of Workforce Solutions, says the state lost 27,800 jobs between October 2008 and October 2009.
It said New Mexico's unemployment rate is at a 21-year high, rising sharply during 2009.
The state recorded a record low unemployment rate of 3.5 percent just two years ago.
State labor officials say the extent of the job losses mean it likely will be four years before employment reaches pre-recession levels again.
The national unemployment rate in October increased to 10.2 percent.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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