EVANSTON, Ill.--(BUSINESS WIRE)--Manufacturers’ News, Inc.--New Mexico posted a second straight year of manufacturing job gains in 2014, reports the 2015 New Mexico Manufacturers Register®, an industrial database and directory published by Manufacturers’ News, Inc. (MNI) Evanston, IL. According to data collected by MNI, New Mexico manufacturers added 1,831 jobs in 2014, or 3.3%, more than double the rate MNI reported for the 2013 survey and nearly twice the national average gain reported by the Labor Department for the same time period.
Manufacturers’ News reports New Mexico is now home to 2,077 manufacturers employing 55,744 workers.
“A flourishing energy sector combined with low taxes has helped to spur job growth in New Mexico for a second year in a row,” says Tom Dubin, President of the Evanston, IL-based publishing company, which has been surveying industry since 1912. “However, employment in the state’s oil and gas sector may begin to wane in 2015 as lower oil prices drag the industry down, and the state’s regulatory environment is tighter than many of its neighbors.”
According to Manufacturers’ News, gains were led by the oil and gas industry, which posted a 15.2% rise in employment in 2014. The oil and gas industry currently ranks as New Mexico’s top sector by industrial employment with 10,704 jobs.
The state’s second-ranked sector, electronics manufacturing, also posted a gain, up 1% over the year, currently employing 6,955. Job gains were also reported in rubber/plastics, up 5.9% and fabricated metals, up 3.5%.
MNI reports Albuquerque ranks first in the state for industrial employment with 18,690 jobs, down 1.4% in 2014. Manufacturing employment rose 13.8% in Carlsbad; 9.8% in Hobbs; and 9.3% in Farmington.
Established in 1912, Manufacturers’ News, Inc. is the nation’s oldest and largest publisher of industrial information. MNI offers a variety of tailored solutions to help customers connect with 430,000 manufacturers and suppliers. MNI’s industrial database subscription service EZ Select allows users to tap into a live interactive database of manufacturers, while its industrial search engine IndustryNet connects buyers and suppliers and allows users to view profiles and obtain competitive quotes. For more information, contact Manufacturers’ News, Inc. 847-864-7000. http://www.manufacturersnews.com