SANTA FE, NM-The latest forecasts on the New Mexico economy show some new revenue sources, but a continued slow rate of growth.
The revenue projections presented to the state's Legislative Finance Committee on Monday indicate that the state economy continues to underperform the national economy. According to the Albuquerque Business First, job growth in the private sector is slow and flat in the government sector in New Mexico. State legislators were also told by state officials to expect a slowdown in mining employment.
According to the University of New Mexico's Bureau of Business and Economic Research, the New Mexico economy will add jobs at an average of 1.4% per year through the end of 2018. Nearly 92% of the new jobs are expected to be in the private sector, growing at an average rate of 1.7% per year. See story in the Albuquerque Business First.
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