Often asked: What Is The Current Unemployment Rate In New Mexico?

What is the unemployment rate in New Mexico right now?

New Mexico’s seasonally adjusted unemployment rate was 7.2 percent in August, down from 7.6 percent in July and down from 9.3 percent in the previous year.

Is unemployment going up in New Mexico?

Yes, work search requirements for Unemployment Insurance (UI) in New Mexico, which had been waived due to the COVID-19 pandemic, will be put back in place for all New Mexicans receiving unemployment benefits starting the week of May 9-15, 2021 and moving forward.

Is NM unemployment taxable?

Per NMSA 51-1-11 of the Unemployment Compensation Law of New Mexico, the minimum tax rate is set at 0.33% and is not to exceed 5.4%. If your contribution rate calculates at lower than 0.33%, it will be adjusted to 0.33%. If your rate calculates at higher than 5.4%, your contribution rate will be adjusted to 5.4%.

What is New Mexico’s economy based on?

The state’s economic pillars are its natural resources, tourism, retail trade and federal government spending. Much of the state’s income is derived from oil and gas. The Permian Basin in New Mexico has more than 25,000 oil wells, including two of the 100 largest oil fields in the nation.

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What unemployment rate is considered full employment?

The Federal Reserve considers a base unemployment rate (the U-3 rate) of 5.0 to 5.2 percent as “full employment” in the economy. The recovery has now achieved that level, known technically as the Non-Accelerating Inflation Rate of Unemployment, or NAIRU.

How do I know if my unemployment claim was approved in NM?

How can I check my claim status? Check your claim status and payment history at www.jobs.state.nm.us in the Unemployment Insurance Tax & Claims system or contact a Customer Service Agent in the UI Operations Center at 1-877-664-6984, Monday through Friday from 8:00 a.m. to 4:30 a.m. Q.

How do I get through to unemployment in New Mexico?

The NMDWS Unemployment Insurance call center is open from 8:00 a.m. to 4:30 p.m., Monday through Friday. Self-service options via the 1-877-NM4-MYUI (1-877-664-6984) toll-free number are available 24 hours/day. To access the UI Claims online system, click on the blue “UI Claims System” button.

How long does it take for unemployment benefits to be deposited NM?

It can take up to 3 business days for a payment to reach your account after payment is submitted. If you changed your account the day you certified, the payment may have posted to your previous direct deposit account.

Is there an email for New Mexico unemployment?

For any Unemployment Insurance Tax questions, please contact the UI Operations Center at 1-877-664-6984, Monday through Friday 8:00 a.m. to 4:30 p.m. or email [email protected]

How do I do my weekly certification for unemployment in New Mexico?

Where do I file my weekly certification for unemployment benefits? Complete your weekly certification online at www.jobs.state.nm.us or over the phone at 1-877-664-6984 Monday-Friday, 7:00am-5:00pm. Please note that there are now designated call days based on the last digit of your Social Security Number: 0-3: Monday.

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How do I pay my New Mexico Unemployment Tax?

You can now pay your Unemployment Insurance quarterly contributions online in the Unemployment Insurance Tax & Claims System at www.dws.state.nm.us. The option “MAKE PAYMENT” appears once you have successfully filed your quarterly report using our online system.

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