Unemployment Flattens Out

Some good news for a change (beyond being a Kiplinger 'hot city'!). Unemployment may have peaked in the region, well below the national average.

• New Mexico's rate for April was 5.8% -- a slight drop from March's 5.9%
• Albuquerque/Rio Rancho looks even better. April shows 6.3% vs. 6.6% in March.

Both compare very favorably with the national average of 8.9% for April.

But, before turning cartwheels down the street, it is worth remembering two more sobering statistics:

• Last year's April rate was 3.9% for the state and 3.7% for Albuquerque.
• We continue to have negative job growth in both the state and the Albuquerque/Rio Rancho area. While that continues, not much hope for any sustained improvement.