According to data from the Federal Reserve Bank of Saint Louis, New Mexico’s per-capita personal incomes are the lowest in the Southwest region and 3rd-lowest in the nation (beating out only Mississippi and West Virginia).
In fact, the AVERAGE New Mexican earns 37% less than the average Coloradoan, an astonishing difference between neighboring states.
While some will say, but…Colorado is a “blue state too…” the reality is that Colorado is among the most economically-free states in the nation. New Mexico is in the bottom quarter. And, based on the deluge of bad legislation coming out of Santa Fe, it is likely that both New Mexico’s economy and its economic freedom standing will suffer in the years ahead.
For more on economic freedom in North America, take a look at the map below which shows which states are the freest and least free, but also check the full report of the Fraser Institute and a detailed explanation of economic freedom.