Good News: NM unemployment rate is the lowest it’s been in 15 years. According to a report by the NM Department of Workforce Solutions (NMDWS), the unemployment rate in December dropped to 3.9%. That’s better than it has been since 2008.
Now the Bad News: A low unemployment rate sounds good but is deceiving because it does not account for many in NM who are working age but not in the labor force. NMDWS data confirms the percentage of people working or looking for work in our state is only 56%. If one is skeptical about that many New Mexicans NOT working – consider the fact that 48% of New Mexicans are on Medicaid and the numbers begin to line up. Read more HERE.