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Unemployment rate in Albuquerque higher than national rate

City of Albuquerque expected to make big announcement Thursday about more jobs that will help lower unemployment rate.

Among the employed, New Mexicans spend an average of 7 hours and 34 minutes a day working.
Among the employed, New Mexicans spend an average of 7 hours and 34 minutes a day working.
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Unemployment rate in Albuquerque higher than national rate

City of Albuquerque expected to make big announcement Thursday about more jobs that will help lower unemployment rate.

The city of Albuquerque is expected to make a big announcement Thursday about more jobs that will help lower the unemployment rate. The unemployment rate in Albuquerque is higher than the national rate, but city leaders said more jobs is the solution."We're finally catching up to our peers in Colorado Springs, Tucson and El Paso, so things are looking good," Albuquerque Economic Development Director Cynthia Jaramillo said.The unemployment rate in May was 4.3%, and in June, it was 5.3%."While the rate is up 1% from last month, we are seeing continuous growth," Jaramillo said.City leaders said the growth is happening with new employers coming to Albuquerque, like Thursday's employer announcement."The majority of the jobs that we have recently announced are actually going to local Albuquerquians," Jaramillo said.Employment projections for 2019 are 380,000 jobs, and next year, 386,000 are projected. City leaders hope some of those jobs keep people in Albuquerque, or bring people back."Our younger millennials, perhaps they will stay in Albuquerque. It also means that the boomerangs will come back to Albuquerque. That's key for this administration," said Jaramillo.Mayor Tim Keller and New Mexico Gov. Michelle Lujan Grisham are both expected to be at the employer announcement. In the southern part of the state, Virgin Galactic announced it's moving its base of operations to Spaceport America. One hundred employees from California will move to the state.

The city of Albuquerque is expected to make a big announcement Thursday about more jobs that will help lower the unemployment rate. The unemployment rate in Albuquerque is higher than the national rate, but city leaders said more jobs is the solution.

"We're finally catching up to our peers in Colorado Springs, Tucson and El Paso, so things are looking good," Albuquerque Economic Development Director Cynthia Jaramillo said.

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The unemployment rate in May was 4.3%, and in June, it was 5.3%.

"While the rate is up 1% from last month, we are seeing continuous growth," Jaramillo said.

City leaders said the growth is happening with new employers coming to Albuquerque, like Thursday's employer announcement.

"The majority of the jobs that we have recently announced are actually going to local Albuquerquians," Jaramillo said.

Employment projections for 2019 are 380,000 jobs, and next year, 386,000 are projected. City leaders hope some of those jobs keep people in Albuquerque, or bring people back.

"Our younger millennials, perhaps they will stay in Albuquerque. It also means that the boomerangs will come back to Albuquerque. That's key for this administration," said Jaramillo.

Mayor Tim Keller and New Mexico Gov. Michelle Lujan Grisham are both expected to be at the employer announcement. In the southern part of the state, Virgin Galactic announced it's moving its base of operations to Spaceport America. One hundred employees from California will move to the state.