As of February 2021 according to the Bureau of Labor Statistics New Mexico has the 5th-highest unemployment rate in the nation. You can see a partial list below. New Mexico which remains among the most locked down states in the nation (especially its population areas) has had an elevated unemployment rate for much of the COVID crisis.
But, with the federal government’s generous (debt-fueled) “stimulus” plans making it lucrative for people to not work, it is clear that many New Mexicans would rather stay home and cash checks than work for a living. Here are a few recent news stories showing how challenging it is for businesses to find people here and here.
Simply put, as businesses try to reopen and get back to something akin to normal, bad policies out of Washington, most notably the recent $2 trillion “Biden-bucks” scheme will make it more difficult for the economy to reopen.
3 Replies to “NM has high unemployment rate yet business can’t find workers: what gives?”
Not just the federal handouts, but the state as well. I noticed all of the states with high unemployment are blue states with low skilled workers, uneducated workers. There is a reason these states do not educate their populations.
This is true. While our business is literally booming, it has been a strain on our employees because I cannot find additional warehouse workers. This state is demoralizing.
Agreed! Hopefully people get back to work soon and federal/state policies stop disincentivizing work.