Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Maybe some of you already know about this, but for me it's new -- maybe for some others --
Unemployment Rates for Metropolitan Areas has the BLS statistics for metro area unemployment for all of NM's metro areas -- SF, LC, ABQ, Farm. It has the most recent month with data -- currently July.
And it shows how they rank US -wide. All four of NM's metro areas are in the top third -- that is, top third LOW unemployment. They have all gone up (table doesn't show this) but NM still looks good compared to the typical state.
Santa Fe's is the lowest (3.9) and LC is the highest (4.9) which surprises me as I get the impression that LC is booming with considerable job growth. It could be that the statistics are not that accurate -- maybe a percentage point doesn't mean that much.
Interesting website! I don't know squat about the Las Cruces job market, but maybe the unemployment rates are high because there's a university there...and all the recent graduates are having a hard time finding good paying jobs in their fields, in our current economic slump. If I remember correctly, unemployment is measured by the number of active job seekers who are not gainfully employed (so stay at home moms don't count in that number.)
In 2002, I graduated from a top-ranked college in upstate NY, where in a good economy, my degree would have gotten me hired anywhere I wanted. Yet due to the crappy 2002 economy, I was being beat out for entry level jobs by people with MBAs who were recently let go from their tech and finance jobs. It was all about experience at that point, since there were fewer jobs to go around. Maybe something similar is happening in Las Cruces and it is inflating the unemployment numbers?
But I could be wrong... maybe 1-2 percentage points are statistically insignificant, given the population of Las Cruces vs. Albuquerque and Santa Fe.
Still, in NM, it looks like we have it much better than some of the larger metropolitan areas!
Last edited by smartyknickers; 09-04-2008 at 08:32 AM..
Reason: edited for spelling
The methodology of such reports are always an issue, especially when trying to explain something as narrow as a one point difference between SF and LC.
I think the difference is meaningless.
The important thing is that unemployment, no matter the details of measurement, is very low in the NM cities mentioned. I recall reading in the LC newspaper (earlier in the year) that the current unemployment rate was at a historic low. It may have risen a little due to the slowdown in home construction, but is still down near a level considered to be full employment. ( some folks who get counted are actually unemployable, for a number of reasons)
Great news for New Mexico.
The methodology of such reports are always an issue, especially when trying to explain something as narrow as a one point difference between SF and LC.
I think the difference is meaningless.
The important thing is that unemployment, no matter the details of measurement, is very low in the NM cities mentioned. I recall reading in the LC newspaper (earlier in the year) that the current unemployment rate was at a historic low. It may have risen a little due to the slowdown in home construction, but is still down near a level considered to be full employment. ( some folks who get counted are actually unemployable, for a number of reasons)
Great news for New Mexico.
Yes, it is not very accurate. BLS does a gigantic survey (60,000 households, I believe) that produces good data nation-wide and for some of the largest states and metro areas. But for NM and its SMSA's they have to estimate unemployment (as they define it) from unemployment claims and other data.
Unemployment -- as they estimate it -- has risen in all four of NM's metro areas by about a 1/2 percentage point and is no longer near historic lows (as they estimate it) for any NM SMSA. But it is all estimates.
I guess the exception is every tenth year, when we get unemployment figure based on the census.
But I could be wrong... maybe 1-2 percentage points are statistically insignificant, given the population of Las Cruces vs. Albuquerque and Santa Fe.
Yeah, the data are pretty flaky. I don't think they are based on any sort of sample survey -- I don't think we can even estimate their statistical significance.
I think that unemployment figures would have to include welfare rates to give a more realistic picture.
If people are employed but making so little that they must be subsidized with food stamps and housing subsidies, Medicaid and so on, then jobs aren't meeting the needs.
If people are employed but making so little that they must be subsidized with food stamps and housing subsidies, Medicaid and so on, then jobs aren't meeting the needs.
That is the sad thing. We've been sliding this direction for 30 years or so. The unions have been mostly broken by making people compete with slave labor overseas... and obviously we can't unless the job requires US residence... which basically means low-paying service jobs... most of which bump against minimum wage.
And now there aren't even enough of those.
Labor unions came into being because the natural tendency of capitalistic society is to squeeze the workers as much as possible... low wages and long hours with no security. The threat of communism helped also... but with these threats gone, we are headed back to the bad old days. It very sad because we have the technology and resources to make a utopia (plenty of stuff with little work needed). Look how the productivity numbers keep rising... but the people who are doing the work don't benefit from it.
That is the sad thing. We've been sliding this direction for 30 years or so. The unions have been mostly broken by making people compete with slave labor overseas... and obviously we can't unless the job requires US residence... which basically means low-paying service jobs... most of which bump against minimum wage.
And now there aren't even enough of those.
Labor unions came into being because the natural tendency of capitalistic society is to squeeze the workers as much as possible... low wages and long hours with no security. The threat of communism helped also... but with these threats gone, we are headed back to the bad old days. It very sad because we have the technology and resources to make a utopia (plenty of stuff with little work needed). Look how the productivity numbers keep rising... but the people who are doing the work don't benefit from it.
Nationally mandated work hours... ie low enough to make employees (work) high demand, to boost salaries and employment. Keep lowering it to keep employment levels high.
Produce the things we use. Increase the efficiency of production rather than rely on 50 cents/hr labor. This happens naturally if slave labor is not an option.
Reduce immigration... and stop offering incentives for people to have kids. We already have too many people in the US.
Gut the AMA and the regulation of medical practice. Second choice would be national health care... anything would be better than what we have now.
Strict requirements on getting loans... for real estate especially. The latest fiasco is insane... people didn't even have to show income to get a loan for a house! Loose credit just serves to increase the price of real estate. Real estate (land) always increases to suck up any excess earnings. Good video here that describes how 2 earner families have less disposable income than a typical 1 earner family had 35 years ago... and the biggest difference is the price of a mortgage. : YouTube - The Coming Collapse of the Middle Class
-----------
If want to be wealthy and have a life of leisure, then we need to focus on efficiency and productivity. This is the only thing that can create it. The market will do this naturally, but we also need a strong government to protect citizens from the depridations of large corporations, ensure competition, and make sure that laws and regulations are beneficial to the bulk of the citizens. We've gone too long with having our government regulated by the corporations...
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
