Inflation is taking a toll on New Mexicans, despite the supposed low unemployment rate in the state, being touted repeatedly by Democrat Gov. Michelle Lujan Grisham.
USA Today writes, “Despite decades-low unemployment levels, adults across the country report feeling unnerved about their finances. The culprit? Inflation…. When prices skyrocketed last year, the annual inflation rate climbed to a mountainous 9.1% in June 2022 before moderating down to 4.9% now. This is still well above the Federal Reserve’s preferred level of 2%. Gas prices, for instance, are down $1.34 a gallon from this time last year, but are still $0.51 higher than two years ago.”
The news network’s analysis of the U.S. Census Bureau Pulse Survey statistics found that New Mexicans are among the top ten states hurting from inflation, with 50 percent of residents “very stressed out by price increases” while 27 percent are “moderately” stressed out by it — that’s 77 percent!
All of New Mexico’s U.S. House delegation voted against a measure that would fight inflation by promoting American energy over that of Saudi Arabia, Russia, and other foreign nations.
The National Republican Congressional Committee’s spokeswoman Delanie Bomar wrote regarding U.S. Rep. Gabe Vasquez’s vote against the measure, “New Mexico families are hurting and hold extreme politician Gabe Vasquez responsible for their financial stress. Vasquez clearly doesn’t understand everyday people’s struggle.”
Younger people are having outsized effects of inflation felt under the Joe Biden administration, with the report noting, “Most people aged between 25 and 54 felt very stressed by price increases (the largest group being 53% of those aged between 40 and 54). And well over half, 80%, of both age groups were either ‘very’ or ‘moderately stressed.’”
Regarding inflation stress and educational demographics, those without a high school diploma felt the most stress, with 63 percent very stressed and 19 percent moderately stressed.
Those who have children at home were 11 percent more stressed than those without, according to USA Today’s analysis.
The outlet noted, “USA Today Blueprint analyzed data from the United States Census Bureau Household Pulse Survey to determine the number of people in each state and city who reported feeling various levels of stress due to rising prices.”
Unemployment does not include people who aren’t even trying to enter the workforce.
NM has a lot of people gaming the system while not working.
They sure do!
You are so right, JT!
Many New Mexicans are stressed about the state’s rising inflation, largely brought on by Biden’s and Vasquez’ support for foreign, rather than American oil. They’re even more stressed about even higher prices the longer Biden and Vasquez remain in office.