This indicator is part of Career opportunities.

Indicator description:

This indicator tracks the annual rate of growth of non-agricultural jobs as measured by the Current Employment Statistics (CES) survey prepared by the Bureau of Labor Statistics. Data are provided for the Albuquerque MSA and comparable MSAs in the Southwest. Proprietors, the self-employed, and domestic workers are not included in the data. It is important to note that a positive percentage rate indicates an increase in the number of jobs compared to the previous year. 

Why is this indicator relevant?

A vital economy must create jobs at a rate that enables new people entering the job market to find employment. It is especially important for the economy to create enough new jobs to accommodate young people just entering the job market so that we retain that young, vital energy in Albuquerque. Job growth also provides a measure of how well the economy has performed over time compared to other regional economies. It allows an assessment of whether Albuquerque is keeping up with others in the region and in the U.S.

Data Source:
Current Employment Statistics survey (CES), U.S. Department of Labor, Bureau of Labor Statistics, 1997-2007

What can we tell from the data?

• The job growth trend in the Albuquerque MSA is similar to other regional cities and the U.S. but is generally more stable.
• The recession in 2001 hit all the economies, but Albuquerque fared better than most into 2003 and 2004.
• In the 10-year period shown, Albuquerque had only 1 year of negative job growth. All other benchmark cities and the U.S. had at least 2 year’s of negative growth in the 2001-2003 period. Negative growth indicates a loss of jobs from the previous year.
• Albuquerque’s job growth has exceeded the U.S. job growth consistently from 2000 to 2006, more than doubling the U.S. number in 2006.
• The 10-year average rate of annual job growth in Albuquerque is better than the U.S. average, but less than several of the regional benchmark cities.

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