Oil and gas production, tourism and the federal government drive New Mexico’s economy. Federal technology labs, Los Alamos National Laboratory and Sandia National Laboratories, are two of the largest employers in the state. New Mexico ranks in the bottom six overall for a seventh straight year due in part to a weak labor supply. Income and job growth have been anemic over the past five years. The state also fares poorly on quality of life metrics, a product of comparatively low school test scores and high crime.
Sources: Moody's Analytics; U.S. Census; ATTOM Data Solutions; FBI; BLS; Forbes.
a. Index measures whether a family earning the median income can afford the median-priced home. A value of 120 indicates a typical household has 20% more income than needed for the typical home.
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