Business

Report: NM unemployment rate hits new high in October

New Mexico’s 4.3% unemployment rate ties it with Ohio for the 37th lowest among all states, according to the U.S. Bureau of Labor Statistics.

New Mexico’s unemployment rate has reached its highest point this year, and the number of jobs added over the past twelve months through October hit the second-slowest pace. That’s according to the latest jobs report from the New Mexico Department of Workforce Solutions, which shows the unemployment rate for New Mexico was 4.3% in October.

The latest unemployment rate for New Mexico, which has also struggled with a low workforce participation rate, is an increase from 4.2% in September — at the time the highest in 2024..