Albuquerque, NM – December 2023 Jobs Report: Solid Gains Despite National Fluctuations

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The December 2023 jobs report for Albuquerque paints a picture of steady progress with a hint of caution. While job growth slowed compared to previous months, key industries witnessed expansion, offering opportunities for qualified job seekers. However, national uncertainties necessitate monitoring the future landscape.


  • Unemployment stays steady: The rate remained at 3.5%, indicating a competitive job market for qualified candidates.
  • Job growth moderates: Nonfarm jobs added 70 positions, reaching 421,500, marking a decrease from the previous months’ momentum.
  • Construction leads the way: This sector added 30 jobs, showcasing potential growth in residential and commercial building projects. Construction laborers, carpenters, and electricians could see opportunities.

What Industries and Occupations Grew:

  • Construction: This sector added 30 jobs, reflecting potential growth in residential and commercial building projects. Construction laborers, carpenters, and electricians could benefit.
  • Professional and Business Services: This sector added 20 jobs, encompassing areas like finance, consulting, or technology. Accountants, marketing specialists, and IT professionals could find opportunities.
  • Trade, Transportation, and Utilities: This sector added 10 jobs, showcasing potential growth in warehousing, logistics, and retail trade. Warehouse associates, truck drivers, and retail salespersons could be in demand.

What Industries and Occupations Shrank:

  • No industries reported significant job losses in December 2023. However, some seasonal positions in leisure and hospitality might have ended with the holiday season.

Compare to Same Month Last Year:

  • Unemployment rate: Lower than 3.9% in December 2022, highlighting a slight improvement in the labor market.
  • Nonfarm job growth: Lower than the 120 jobs added in December 2022, showcasing a deceleration in hiring compared to the previous year.

Compare to Previous Month:

  • Unemployment rate: Unchanged from November 2023, indicating stability in the labor market.
  • Nonfarm job growth: Significantly lower than the 210 jobs added in November 2023, marking a slowdown in hiring.

Future Outlook:

Experts offer a cautiously optimistic outlook for Albuquerque’s job market in 2024. The stable unemployment rate and growth in key sectors like construction and professional services suggest potential resilience. However, monitoring national economic trends and their impact on specific industries, especially healthcare and manufacturing, is crucial. Adaptability and upskilling will be key in navigating potential shifts.

10 Growing Occupations in Albuquerque, NM:

  1. Registered Nurses
  2. Nursing Assistants
  3. Customer Service Representatives
  4. Software Developers and Applications Developers
  5. Sales Representatives
  6. Marketing Specialists
  7. Accountants and Auditors
  8. Construction Laborers
  9. Truck Drivers
  10. Teachers

10 Companies Hiring Now in Albuquerque, NM:

  1. Sandia National Laboratories
  2. University of New Mexico
  3. Presbyterian Healthcare Services
  4. Kirtland Air Force Base
  5. City of Albuquerque
  6. Balloon Fiesta
  7. Intel Corporation
  8. Honeywell International
  9. Walmart
  10. Lowe’s