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New Mexico’s seasonally adjusted unemployment rate was 3.8 percent in March 2024, down from 3.9 percent in February and up from 3.6 percent in the previous year. The national unemployment rate in March was 3.8 percent, down from 3.9 percent in February and up from 3.5 percent in March 2023. Total nonagricultural payroll employment grew by 18,100 jobs, or 2.1 percent, between March 2023 and March 2024.