Unemployment claims still up

Unemployment claims in Quay County remained elevated during the fiscal-year third quarter of 2021 compared to pre-pandemic levels.

The New Mexico Economic Development Department released economic reports on all 33 counties last week for the January-to-March period.

About 260 jobless claims were filed in Quay County during that quarter. That was less than the peak of more than 300 during the fourth-quarter fiscal year of 2020, during the height of the COVID-19 pandemic. However, that was an increase of about 40 from the previous quarter.

Only about 25 people in Quay County filed for jobless claims during three consecutive quarters before COVID-19 cases began to be reported in New Mexico in the spring of 2020.

Joel Salas and Ryan Eustice, economists who wrote the report, noted the recent increase in jobless claims also could partly reflect seasonal job fluctuations.

“The current unprecedented uptick in initial unemployment claims is clearly tied directly to the COVID-19 pandemic,” the report stated. “As vaccination levels and other health indicators continue to improve and result in lessened health concerns and fewer business restrictions, these claims should decline, but it is impossible to predict how quickly employment numbers will return to pre-COVID-19 levels.”

The report also noted Quay County’s matched taxable gross receipts rose by 23%, or $8 million, from the previous quarter. Retail made up 32% of the largest portion of those funds, while construction was 17% and accommodations and food serves was 12%.

Compared to the same quarter in 2020, matched taxable gross receipts saw declines in the arts, entertainment and recreation sectors (minus 74%), information (minus 51%), health care and social assistance (minus-22%), finance and insurance (minus-22%) and unclassified establishments (minus-93%).

Matched taxable gross receipts saw big increases in agriculture, forestry, fishing and hunting (74%), educational services (407%), transportation and warehousing (181%) and utilities (41%) from the most recent quarter to the same period in 2020.

Gross receipts tax collections in the county increased $19,000, or 3%, from the previous quarter.

A news release from the department stated New Mexico counties had a very good month in March 2021 in terms of the matched taxable gross receipts.

“Whether it was pent up consumer demand, stimulus checks deposited in consumer bank accounts, or the easing of business restrictions, March had the highest total monthly MTGR ($6.4 billion) since December 2019 ($6.8 billion) and was the largest amount of reported MTGR when compared to March of previous years, dating back to FY08,” the release stated.

It stated 27 of 33 counties saw year-over-year increases in those receipts.

“While we realize we have much work to do toward economic recovery, these reports clearly indicate that New Mexico is beginning to return to pre-pandemic levels in all economic sectors,” Economic Development Department Cabinet Secretary Alicia J. Keyes said.