MARKET WATCH: New Mexico Top Performing State Economy Since Trump Took Office

Updated: Oct 10, 2018

Bloomberg reported that New Mexico’s economy leads other states in job and wage gains since President Donald Trump’s inauguration in January 2017, according to an analysis of Federal Reserve Bank of Philadelphia data.

The Albuquerque Journal dug into the data presented in the Bloomberg article and cited New Mexico’s performance may be due to a “delayed recovery from the recession, as well as the recent upswing in extractive industries like oil and gas.” It explained the Bloomberg methodology as, “The coincident index calculation includes information about nonfarm payroll employment, average hours worked in manufacturing by production workers, the unemployment rate and wage and salary disbursements. The average U.S. city consumer price index and the state’s gross domestic product are also weighed in the calculation.”

Nevada, Arizona, California and Georgia rounded out the top five.