Recently, a report from the Pew Center had what can only be described as extremely troubling news for New Mexico’s economy. While the politicians emphasize the few jobs that have been created or the recent boost in tourism, the reality of New Mexico’s struggling economy is clearly shown in the data.
The following chart really tells the story. According to this chart from the Pew Center, New Mexico’s employment rate for 25-54 year olds dropped more dramatically than did the rate of any other state in the nation between 2007 and 2015. Sadly, New Mexico is “number one” (or 50th) with a “bullet” as the decline in people working in New Mexico exceeded the rate of decline in the second-worst state (Georgia) by a jaw-dropping 33%.
A lack of jobs, an unprepared workforce, and an out-migration of talented workers to other more economically-free states could all be blamed, but the fact is that New Mexico has definitely not recovered from the economic downturn.