Income Growth: Not the Worst, But Close

Last week the U.S. Bureau of Economic Analysis released data on state personal income — “the sum of net earnings by place of residence, property income, and personal current transfer receipts” — in 2015.

For the U.S. as a whole, personal income grew 4.4 percent between 2014 and 2015. Not surprisingly, New Mexico, at 3.7 percent, lagged the national figure. Looking at our region, four of the Land of Enchantment’s five neighbors fared better. Only Oklahoma, at 2.3 percent, performed worse.

With budget deficits inducing calls for tax hikes at the state and local levels, incomes are under the gun, again, in New Mexico. Stay vigilant!