NM median incomes on slow-growth trajectory

As the Albuquerque Journal recently reported, New Mexico saw some modest gains in median income, but that is little consolation when one compares New Mexico’s performance to that of its neighbors (or the nation at large). Full data available here.

According to the data, New Mexicans’ median incomes grew faster than only two states: New Jersey and Idaho between 2014 and 2015. Obviously, New Mexico trailed the national average dramatically with a growth rate less than 1/3rd that experienced by the nation as a whole. Despite both New Mexico and Texas allegedly being reliant on the same oil and gas industry, New Mexico’s median rate of growth was 1/4th that of Texas.

New Mexico has always been poor, but it is clear that if something doesn’t change quickly, New Mexico is going to fall further behind its neighbors and the nation as a whole.

http://riograndefoundation.org/images/rgf_median_income.jpg

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