New Mexico Has No Jobs

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From the Wall Street Journal “New Mexico Looks to Diversify Employer Mix

Bordered by states with rapidly expanding economies, New Mexico remains unable to improve much on an anemic recovery and officials trace it to one root cause: an overreliance on government jobs.

New Mexico posted nonfarm job growth of 0.2% from October 2012 to October 2013, compared with 2.4% in Texas, 1.9% in Colorado, and 1.7% in Arizona, according to a December report by the New Mexico Department of Workforce Solutions. New Mexico is still down about 40,000 nonfarm jobs compared with late 2007.

The article goes on to give some examples on how the state government is trying to bring in business such as tax cuts. It seems to be too little too late and I’m afraid the worse is to come for New Mexico.

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