95% of Torrance County’s workforce is on the job. That’s a new 10-year record for the county according to State labor statistics covering 2012-2022. The county’s unemployment rate officially came in at 4.7%, or just 255 of 5,931 residents in the workforce still looking for work.
That’s good news for a community where spending by local workers accounts for 22% of the county budget and much more for municipalities.
New Mexico’s statewide unemployment rate also set a new record low at 3.4%. While New Mexico traditionally led the country in unemployment, the state has seen a faster recovery from COVID than some states with 20 other states, including Texas and California, posting higher unemployment at the end of 2022 than New Mexico.
For those looking for work, the State’s Workforce Solutions Department shows 259 job openings in the county this week and that does not account for private advertisements in local newspapers or help wanted signs not posted online. In case you were wondering, Torrance