New Mexico Economic Development and Revenue Strategy
New Mexico's Slow Growth and High Poverty Economy
◆ New Mexico has persistently high poverty. Based on three-year data, New Mexico has the
third highest state poverty rate - trailing only Mississippi and Louisiana. Relatedly,
Arkansas, Mississippi, Oklahoma, and West Virginia were the only states with lower
average weekly wages as of December 2021.
• In addition, poverty is concentrated in certain places – for example, Cibola, Socorro,
Sierra, and McKinley Counties - and among certain groups of people, especially Latino
households (21.3 percent), Black households (22.2 percent), and Native American
households (30.0 percent).
As of May 2022, New Mexico was tied with Arkansas for the third lowest civilian labor
force participation rate - only West Virginia and Mississippi had lower rates of
participation. And, New Mexico has the 13th lowest college attainment rate at just 30.1
percent.
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