Bloomberg Ranks NM No. 1 for Economic Gains
Thursday, December 27, 2018
New Mexico’s economy is red hot!
According to a recent report by Bloomberg, New Mexico’s economy leads other states in job and wage gains since January 2017, according to analyses by the Federal Reserve Bank of Philadelphia. Nevada, Arizona, California and Georgia rounded out the top five.
According to new data from the Bureau of Labor Statistics, which the Federal Reserve Bank uses to conduct these analyses, New Mexico saw the greatest decline in the unemployment rate for any state. This decline beats every other state in the nation by a large margin. Forbes (Oct. 4) indicates that, “This will come as no surprise to anyone who understands what has been taking place in the Southeastern part of the state,” referring to the ongoing boom in oil production in the State’s Permian Basin region.