New Mexico Q1, 2019 Employment Statistics- 61,346 employers, up 3.3% from 59,387
- 822,944 employees, up 1.4% from 811,959
- $890 average weekly wage, up 3.2% from $862
- The average weekly wage is 24.8% below the national average
- The cost of living is 7.2% below the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 1,959, which is an increase of 3.3%. The number of employees in New Mexico increased by 10,984, an increase of 1.4%. During this same period, the average weekly wage increased by $28, an increase of 3.2%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 1,966 or 3.6%. Growth in private businesses in New Mexico grew faster than the national average of 3.0%. The number of employees in these businesses increased since last years' Q1, increasing by 10,282 or 1.6%. The growth in employees of private businesses in New Mexico was slower than the national average of 1.7%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $31 or 3.7%. Growth in average weekly wage of employees of private businesses in New Mexico grew faster than the national average of 3.0%.
Leading Sectors
Businesses by Sector
The sector with the greatest number of businesses in the state is Healthcare with 15.8% of the businesses in the state. The number of businesses in this sector increased by 6.5%. Professional services (11.8%), which increased by 4.9% and Retail trade (10.0%), which decreased by 0.2%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Company management | 42 | 12.0% |
| Healthcare | 590 | 6.5% |
| Waste services | 175 | 5.6% |
| Professional services | 339 | 4.9% |
| Information | 45 | 4.7% |
| Educational services | 40 | 4.6% |
| Wholesale trade | 126 | 4.6% |
| Transport and warehousing | 59 | 4.0% |
| Real estate and rental | 93 | 3.8% |
| Construction | 168 | 3.2% |
| Mining and oil extraction | 34 | 3.0% |
| Other services | 88 | 2.2% |
| Finance and insurance | 56 | 2.0% |
| Accommodation and food services | 83 | 1.9% |
| Agriculture and forestry | 14 | 1.6% |
| Manufacturing | 20 | 1.1% |
| Arts and entertainment | 8 | 1.0% |
| Retail trade | -11 | -0.2% |
| Utilities | -3 | -1.1% |
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare with 14.5% of the employees in the state, had an increase in employees of 1.1% in the last year. Retail trade (10.8%), decreased by 1.8% and Accommodation and food services (10.5%), increased by 1.2%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Mining and oil extraction | 2,625 | 11.2% |
| Arts and entertainment | 764 | 8.1% |
| Waste services | 1,951 | 4.6% |
| Real estate and rental | 399 | 4.0% |
| Professional services | 2,095 | 3.7% |
| Manufacturing | 882 | 3.3% |
| Transport and warehousing | 577 | 3.1% |
| Company management | 134 | 2.4% |
| Finance and insurance | 442 | 2.0% |
| Educational services | 173 | 1.8% |
| Construction | 695 | 1.5% |
| Wholesale trade | 301 | 1.4% |
| Accommodation and food services | 1,056 | 1.2% |
| Healthcare | 1,293 | 1.1% |
| Other services | 111 | 0.5% |
| Retail trade | -1,631 | -1.8% |
| Utilities | -146 | -3.4% |
| Agriculture and forestry | -492 | -5.0% |
| Information | -948 | -8.1% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Utilities paying $1,892per week compared with the state average of $871. Weekly wages in this sector rose by $169 or 9.8%. Mining and oil extraction ($1,644), rose by $75 or 4.8% and Professional services ($1,570) increased by $13 or 0.8% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Information | $153 | 15.1% |
| Utilities | $169 | 9.8% |
| Waste services | $46 | 6.7% |
| Wholesale trade | $67 | 6.3% |
| Mining and oil extraction | $75 | 4.8% |
| Finance and insurance | $59 | 4.7% |
| Real estate and rental | $31 | 4.2% |
| Other services | $27 | 4.2% |
| Arts and entertainment | $16 | 3.8% |
| Manufacturing | $36 | 3.4% |
| Accommodation and food services | $11 | 3.3% |
| Educational services | $23 | 3.1% |
| Transport and warehousing | $26 | 2.7% |
| Healthcare | $21 | 2.6% |
| Construction | $21 | 2.3% |
| Professional services | $13 | 0.8% |
| Company management | $9 | 0.6% |
| Agriculture and forestry | $1 | 0.2% |
| Retail trade | $-4 | -0.7% |
Leading Industries
Businesses by Industry
Each broad sector is made up of specific industries. In New Mexico. the industry with the most businesses is Services for the elderly and disabled with 7.6% of the businesses in the state (with 4,681 employing 19,016 workers). The Services for the elderly and disabled industry had 463 more businesses, an increase of 11.0% in the last year. Restaurants and other eating places (5.3% of businesses) added 47 businesses, an increase of 1.5% and Computer systems design and related services (2.3% of businesses) added 140 businesses, an increase of 11.0% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Trusts estates and agency accounts | 19 | 190.0% |
| Hunting and trapping | 2 | 100.0% |
| Other consumer goods rental | 63 | 77.8% |
| Amusement arcades | 5 | 55.6% |
| Ambulance services | 17 | 53.1% |
| Soap and cleaning compound manufacturing | 3 | 50.0% |
| Urethane and other foam product manufacturing | 2 | 40.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Services for the elderly and disabled | 463 | 11.0% |
| Computer systems design and related services | 140 | 11.0% |
| Other consumer goods rental | 63 | 77.8% |
| Temporary help services | 62 | 11.4% |
| Gasoline stations with convenience stores | 52 | 8.5% |
| Offices of real estate agents and brokers | 48 | 8.4% |
| Restaurants and other eating places | 47 | 1.5% |
Employees by Industry
Restaurants and other eating places (5.3% of employees) added 47 employees, an increase of 1.5% and Computer systems design and related services (2.3% ofemployees) added 140 employees, an increase of 11.0% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Other financial vehicles | 13 | 422.2% |
| Forging and stamping | 142 | 261.3% |
| Geophysical surveying and mapping services | 142 | 164.7% |
| Animal slaughtering and processing | 235 | 134.9% |
| Advertising material distribution services | 31 | 98.4% |
| Other heavy construction | 309 | 86.0% |
| Tour operators | 18 | 66.6% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Support activities for mining | 2,383 | 15.3% |
| Oil and gas pipeline construction | 1,199 | 36.7% |
| General medical and surgical hospitals | 1,001 | 4.7% |
| Research and development in the physical engineering and life sciences | 966 | 4.0% |
| Telephone call centers | 966 | 12.2% |
| Direct life and health insurance carriers | 636 | 14.3% |
| Computer systems design and related services | 548 | 10.3% |
Average Weekly Wage by Industry
Restaurants and other eating places ($5) and Computer systems design and related services ($2) round out the top 3 industries. Employees in the Restaurants and other eating places ($5 per week) were paid $47 more per week, an increase of 1.5% and Computer systems design and related services ($2 per week) were paid $140 more per week, an increase of 11.0% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Other publishers | $1,757 | 127.0% |
| All other financial investment activities | $925 | 79.3% |
| Language schools | $169 | 60.8% |
| Promoters without facilities | $257 | 58.4% |
| Employment placement and executive search | $450 | 55.1% |
| Motion picture and video production | $522 | 53.0% |
| Remediation services | $499 | 46.8% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Other publishers | $1,757 | 127.0% |
| All other financial investment activities | $925 | 79.3% |
| Electric power generation | $528 | 28.3% |
| Motion picture and video production | $522 | 53.0% |
| Remediation services | $499 | 46.8% |
| Hvac equip. merchant wholesalers | $459 | 31.2% |
| Employment placement and executive search | $450 | 55.1% |
Company Size
New Mexico Businesses by Size
The solopreneur company, has the most businesses in New Mexico by far. 62.2% of all businesses in the state have fewer than 5 employees. The 55,035 small businesses in the state represent 96.1% of all private businesses. The national average is 92.9%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) New Mexico added 1,966 businesses in the last year, an increase of 3.6% as compared to the national average of 3.0%.Small businesses are defined as companies with fewer than 50 employees. These small businesses added 1,927 businesses in the last year, which is an increase of 3.6% as compared to the national average of 3.1%.
Mid-sized businesses are defined as companies with between 50 and 499 employees. These mid-sized businesses added 39 businesses in the last year, which is an increase of 1.8% as compared to the national average of 1.3%.
Large businesses are defined as companies with more than 500 employees. These large businesses added 0 businesses in the last year, which is an increase of 0.0% as compared to the national average of 2.1%.
New Mexico Employees by Business Size
New Mexico added 30,845 employees in the last year, an increase of 5.0% as compared to the national average of 5.2%. Small businesses are defined as companies with fewer than 50 employees. These small businesses added 5,963 businesses in the last year, which is an increase of 12.2% as compared to the national average of 4.2%.Mid-sized businesses are defined as companies with between 50 and 499 employees. Mid-sized businesses added 20,750 employees in the last year, which is an increase of 9.2% as compared to the national average of 4.7%.
Large businesses are defined as companies with more than 500 employees. Large businesses added 4,132 employees in the last year, which is an increase of 6.2% as compared to the national average of 9.2%.
New Mexico Avg Weekly Wages by Business Size
New Mexico workers in every size business are paid less than the national average. The smallest companies in New Mexico (those with fewer than 5 employees) pay workers 18.9% less than the national average ($845 per week as compared to the national average of $1,005 per week). The largest companies in New Mexico (those with more than 1,000 employees) pay 11.5% workers below the national average ($1,715 per week as compared to the national average of $1,913 per week).Average weekly wages in small businesses added $79 per week in the last year, which is an increase of 2.7% as compared to the national average of 3.1%. Employees of mid-sized businesses added $72 in wages per week in the last year, which is an increase of 2.8% as compared to the national average of 1.3%.
Employees of large businesses added $167 of weekly wages in the last year, which is an increase of 6.7% as compared to the national average of 2.1%.
Data Sources
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