The latest unemployment rate data are out and there is some good news. New Mexico’s rate in January of 2016 dropped to 6.5%, that’s down from 6.8% just in November.
New Mexico’s rate is now 48th-best in the nation beating out Alaska and Mississippi. Sadly, our rate is more than double the rate of neighboring Colorado. Ouch!
In terms of the Albuquerque economy, which is likely to outperform the New Mexico economy as a whole due to its relative insulation from oil and gas prices, the Albuquerque Biz First economic dashboard can be viewed below. Remember, this index is based on previous highs, so in the case of the drop in flights in and out of the Sunport, we are at 71% of where we were more than a decade ago. Obviously, New Mexico’s economy remains anything but healthy with the full impact of lower energy prices still to be fully felt.