United States Congress Joint Economic Committee

New Mexico

May 2024

Select a State
Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming
April Employment Update
Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
New Mexico Unemployment (U-3) 3.6% 3.5% 5.0%
U.S. Official Rate (U-3) 3.7% 3.7% 3.4%
U.S. "Real" Rate (U-6) 7.0% 7.1% 6.7%
New Mexico Labor Force Participation Rate 56.5% 56.4% 56.9%
U.S. Labor Force Participation Rate 62.5% 62.5% 62.4%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 3.4% 3.1% 6.5%
"Core" CPI Inflation 3.9% 4.0% 5.7%
National Gas/gal. Updated 5/21/24 12:00 AM $3.60 $3.67 $3.54
New Mexico Gas/gal. $3.32 $3.24 $3.52
West Region: Loaf of Bread $2.36 $2.25 $2.23
West Region: Milk/gal. $3.97 $3.97 $4.27
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q4/2023 (3rd Estimate)
3.4%
NM Real GDP
Q4/2023
4.2%
S&P 500 (YTD)
0.29% Updated 1/16/24 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
NM Hourly Rate
$11.50
Last Generated: 5/21/24 10:05 AM