New Mexico invests in young entrepreneurs to kickstart its sluggish economy
12 Feb 2018
While much of the U.S. economy is on the rebound, New Mexico remains in the dumps since the recession hit a decade ago. Part of the problem may be a statewide brain drain: educated young people taking their careers -- and expertise -- elsewhere. Economics correspondent Paul Solman reports on New Mexico’s mission to bring back its young, energetic entrepreneurs.
The stock market is up, unemployment is down, and much of the U.S. economy is on the rebound, but not for the state of New Mexico.
It’s a place that’s still down in the dumps a decade after the recession began. Its jobless rate is 6 percent, compared to just 4.1 percent nationally.
Economics correspondent Paul Solman traveled to the Land of Enchantment, where local officials are betting on innovation to spark the turnaround.
It’s part of his weekly series, Making Sense.