|Why New Mexico is an Economically Dead State|
|keywords: New Mexico Unemployment Dipping economy employment opportunities|
The Barney Frank and Alan Greenspan Recession of December 2007 hit many states in the US but it seems that New Mexico has still not made a full recovery.
The rate of unemployment in the state was six percent in 2017 and continues to be persistently high. There are only a couple of states in the country that are doing worse than this and they are ran by liberals too.
Pre-recession vs. post-recession
Almost all of New Mexico’s 33 counties (except the small Mora County) are witnessing higher unemployment rates compared to the prerecession period. The state lost a great amount of jobs during the recession and hasn’t been able to regain them yet.
And this is just the tip of the iceberg.
Dipping economy in the state
Economists call the ten years since the beginning of the recession ‘New Mexico’s lost decade’. Those who are watching and worrying about the economy don’t seem very hopeful either.
Sen. Michael Padilla, D-Albuquerque, a leader in the Legislature on economic development issues compares the situation to a train wreck. But he is a liberal – he’s part of the problem. The Democrats continue to destroy this state.
The energy economy in north-western New Mexico has been suffering. Depressed prices have caused natural gas production in the state to be lower than prerecession levels. The phased shutdown of the coal-fired San Juan Generating Station has resulted in a lot of local unemployment as well. San Juan County was once seen as a center for economic potential but has almost hit a roadblock now.
This state is loaded in oil shale but they will screw that up too. Texas won’t though!
Lack of employment opportunities
Public jobs in New Mexico are fewer in number today because the state is broke and pathetic but any state that relies on government labor to bail them out is on the wrong course. Public agencies don’t create wealth, they destroy it. Sectors such as construction, financial activities, and professional and business services have taken a hit.
According to the UNM’s Bureau of Business and Economic Research data, there has been job growth in surrounding states since the recession, owing to a rise in professional and business services but this is because New Mexico is mainly surrounded by states that are ran by Republicans – a party that actually understands how wealth is created.
The crunch of skilled workers in professional and business services, a lack of investment capital, and a lack of support services for professional and business service companies in New Mexico are some reasons for the economic loss of the state. The main reason this state is suffering is because it’s ran by corrupt liberals.
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