Reports just released by the New Mexico Taxation and Revenue Department indicate that the Dona Ana County economy continued to soften during the second quarter of 2009. According to the report, total reported gross receipts for all industries fell 3% when compared to the second quarter of 2008. The reduction was less than the 4.3% reduction recorded in the first quarter. Total reported gross receipts for retail trade were 10% lower when compared to the second quarter of 2008.
The construction sector continues to soften, but not as severely as during the first quarter. Total reported gross receipts were 4.3% lower in the second quarter of 2009 as compared to 2008. New residential permits issued in the county were 17.1% lower and total permit valuations (all classifications) fell 11.6%
According to preliminary data from the Bureau of Labor Statics, Dona Ana County’s unemployment rate in June, 2009 was 7.3%. This is lower than the national rate of 9.5%, but higher than the state rate of 6.8%.
Using a variety of sources, MVEDA tracks and reports changes in labor force, employment, construction permits and total reported gross receipts on a quarterly and annual basis. These economic indicator reports are available on MVEDA website. The report for the second quarter of 2009 will be released in the near future.
Detailed New Mexico gross receipts files are available on UNM’s Bureau of Business & Economic Research website. Current and historical labor force data for Dona Ana County (Las Cruces NM MSA) are available on the Bureau of Labor Statics’ website.
