New Mexico Economic Development and Revenue Strategy
New Mexico's Slow Growth and High Poverty Economy
New Mexico has lagged in economic and population growth for more than a decade and
remains one of the poorest states in the nation.
• Between 2000 and 2010, New Mexico gained just over 95,000 jobs and total jobs grew
by 10 percent. But between 2010 and 2019 (pre-COVID), New Mexico's jobs and total
population growth decelerated. Jobs were up by just 5 percent, and New Mexico was
fourth from the bottom in jobs growth – behind only Alaska, West Virginia, and Vermont.
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• In addition, between 2010 and 2020, New Mexico's population only grew by 2.8 percent
- tied for the 11th slowest rate of growth. It was only the second decade since its
founding that the State did not experience a double-digit growth rate.
•
Despite the perception that remote workers have been moving into the State during the
pandemic, the population of the State declined between 2020 and 2021, as did net in-
migration. This is in stark contrast to neighboring states, especially Arizona.
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