Albuquerque Jobs Analysis

AlbuquerqueAlbuquerque accounts for almost 50% of New Mexico’s economic activity.  It’s the largest city in a state with a relatively small population.  Mining, Transportations, and government industries have helped keep Albuquerque on the Forbe’s list of top cities to do business with each year since 2004.  The city is a major southwest US transportation hub, especially when it comes to the railways, and has been able to stay relatively healthy since the onset of the recession in late 2007.

Albuquerque’s Sunport International Airport provides the city with a massive freight-moving hub.  The Rio Grande River also runs through the city and helps to generate even more freight and transportation-related dollars.  The government sector accounts for roughly 100,000 jobs in and around the city as well.  This number will likely increase as the transportation and freight hauling needs of the US increase as the depression ends in the next few years.

Among these positive attributes, Albuquerque does have a relatively high unemployment rate due to socio economic factors and because many of the farm workers are seasonal, and can only find work about five or six months out of the year.  There hasn’t been much real economic growth in Albuquerque that’s not related to the airport or rail lines, and this trend is not likely to reverse itself any time soon.  While there are about 50,000 jobs in the business and financial sectors in the city, there are relatively little new business transplants from other business and financial hubs nearby.

The tourism sector also helps to account for a large number of jobs in the Albuquerque area.  Its unique desert southwest flavor and close proximity to the Mexican border make Albuquerque a very popular tourist destination, especially in the summer months.  New Mexico is a treasure trove of environmental and geological wonders and it is little wonder that the city of Albuquerque, sitting in the very heart of the state geographically, is a great location from which to strike out and enjoy the natural beauty.

Albuquerque is also a college town, and the University of New Mexico is centrally located within the city limits.  This provides the city with more education and education service-related job opportunities and potential, while also providing a unique and constantly refreshed pool of young labor.  Unfortunately, those students sticking around through the summer months also add to the pool of people looking for seasonal work in and around the city.  The UNM campus helps to balance out an otherwise relatively old city, and gives a more youthful vibe to a place that has long been a cultural and transportation hub of the southwest.

The job outlook for Albuquerque is much the same as it has been for the past decade.  There really aren’t too many new economic or employment sectors moving to the city to do business, but the city can always improve upon those that already exist, ad help to grow their economy through the next decade.  The potential expansion of the US transportation infrastructure will only mean good things for cities like Albuquerque that are highly dependant on this sector for both economic success and growth.