New Mexico faces significant challenges in economic rankings, highlighting ongoing struggles to balance the needs of businesses and workers while fostering growth.
Across multiple metrics evaluating business climates, employee welfare, and economic balance, the state consistently lands near the bottom, revealing structural hurdles that hinder its economic performance.
In rankings focused on business climate, New Mexico ranks 47th overall, among the lowest in the nation. Factors contributing to this poor score include a lackluster ranking of 43rd for CNBC’s “best business climate” and 44th for U.S. News’ measures of opportunity and economy.
These metrics capture New Mexico’s challenges in attracting and retaining businesses due to high tax burdens and limited growth opportunities due to leftist policies.
For example, the state ranks 23rd in tax burden but falls to 47th in the number of business startups, indicating a discouraging environment for entrepreneurial activity. While not at the bottom, the state’s GDP growth sits at 27th, showing a slower pace of economic expansion.
On the worker-centric side, New Mexico’s performance is slightly better but still middling. The state ranks 24th regarding worker-centric metrics, reflecting a mixed picture of job stability and pay. Workers face a 2.4% quit rate (24th) and a 1.23% dismissal rate (14th), suggesting slightly better-than-average job retention.
However, New Mexico’s cost-adjusted income is a concern, ranking 47th at $42,128 annually, well below the national median. Despite these challenges, the state ranks 15th in Oxfam’s “best workplaces” index, reflecting strong workplace policies relative to its economic peers.
In terms of overall economic balance—combining business and worker priorities—New Mexico ranks 44th. The state struggles to create a mutually beneficial environment for employers and employees, weighed down by its 47th-place ranking for business-friendliness. These imbalances hinder the state’s ability to compete with more dynamic economies like Virginia, Colorado, and Washington, which top the rankings.
New Mexico’s economic difficulties underscore the need for policy shifts to improve its business climate and bolster worker outcomes. With targeted reforms, the state could better leverage its resources to foster an environment conducive to growth for businesses and workers.
See the statistics and read more about these studies here.
MLG has consistently strived to put New Mexico at or near the bottom of every metric used to grade a states ranking. Her feckless leadership, and that of the state legislature, has a detrimental impact on every citizen in this state, democrat and republican. MLG and her cabinet have had so many justifiable impeachment acts it is incredulous that she hasn’t been removed.
MLG is truly an embarrassment. New Mexicans need to be smarter about the individuals they choose to elect to office.
Preaching to the choir, New Mexicans need to wake the heck up and vote the democrats out of office. I would state vote the marxist democrats out of office but NMs will just say there are none.
WAKE UP NM!!!
Elections here are VERY crooked. Does anyone really think gov. cartel and the SoS would have been re-(s)elected without Soros money, Mexican militarized pharmaceutical manufacturer money, and lots of other money from all over the place?? Of course not! We also have more than our fair share of stupid people and that doesn’t help matters either.
Show me your woke democrats and I’ll tell you who is in Santa Fe fighting to keep NM in 48 percentage of Education, Commerce, Health, Etc. But we are number one in the killing of the unborn….Good job MLG and your minions. Can’t wait until your out of office with the rest of your evil peers…
NM isnt voting these communofascists into office, they are keeping themselves in office by controlling the elections.
Look up the definition of the word Dominion and try to tell me you would purchase voting machines from a company with that name.
Demand election integrity, demand voter ID. Don’t listen to the preposterous notion that votes would be suppressed – the only votes that are suppressed with those laws in place would be the fraudulent ones cast by the criminal communofascists that are ruining our state.
It seems to me that NM rankings have been low for many many years. It’s not like they crashed all of a sudden because of MLG. Look at all the years Domenici and Bingaman were in office and these rankings didn’t change much. How long were some of the state legislators in office during this same time? It appears to be a systemic problem within NM culture. Both sides need to work on this or we will always near the bottom.
Democrats have controlled our state for well over 100 years. There is a mind set of hating those that create wealth and wanting the government to provide. Too many families have been taken care of by the government for way too many years. It’s too easy to be unmotivated here.
Absentee votes are for those in the military or other workers stationed away from NM and for the elderly or infirm who can’t make it to the polls. Everyone else who’s too lazy to go vote in person have no business voting in the first place! Funny how those fraud boxes, er, drop boxes are located at polling places where you could just walk inside and vote in person anyway. Oh wait, you could also drop your “absentee” vote in the fraud box and then walk inside and vote again and I wonder if the Democrats running the vote count would even notice, or care when the other ballot shows up a day or two later- hmmmm?
The Republicans are to blame also. Here in Chaves County we tried to get our commissioners to help us look into the machines and they refused. My guess is the governor ousting Couy Griffith in Otero County didn’t help. We need leaders with a backbone!