NM ranks near the bottom for economic job growth

An economic study ranks New Mexico as one of the worst in the nation when it comes to economic and job growth.

The report, authored by the University of New Mexico’s Bureau of Business and Economic Research, shows New Mexico ranks 48 among states when it comes to job growth.

According to the report New Mexico had previously been ranked among the top 15 states for job growth over the last 40 years. The report showed New Mexico has the largest gap of any state when it comes to the disparity between its upper and lower class incomes. There’s also a large educational disparity. The report points out the state ranks fourth in the country with the number of people living here with Ph.D.s, but toward the bottom when it comes to people with bachelor’s degrees. 

The report also shows the state relies heavily on federal dollars and its economy could be badly hurt by any cuts to federal spending. It also said the state could benefit from the Affordable Care Act. 

There are some positives. According to the report, New Mexico does well in the areas of technology, arts and culture, mining, gas and oil production, transportation and tourism.

NM ranks near the bottom for economic job growth