More Reality vs. Perception

New Mexico’s seasonally adjusted unemployment rate was 3.2 percent in February 2008, little changed from January’s record low of 3.1 percent. The national unemployment rate, currently 4.8 percent, remains higher than New Mexico’s. A year ago, the state’s unemployment rate stood at 3.8 percent.
Albuquerque’s seasonally adjusted unemployment rate was 3.3 percent in February, unchanged from January’s rate. Over the year, unemployment in the area has decreased three tenths of a percentage point from 3.6 percent.
So, why are we having so much difficulty with the housing market? Go figure....