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The State Of The Economy: Water Scarcity And Economic Performance.pdf

D1_11_Jim_Peach.pdf
Preview of The State of the Economy: Water Scarcity and Economic Performance
🔗 Source: nmwaterconference.nmwrri.nmsu.edu
📊 Size: 721 KB
👤 Author: Peach, James
⬇️ Downloads: 203

Summary

The National Economy is performing well, with a 4.2% increase in Real Gross Domestic Product (RGDP) in Q2 2018, and a projected 2.9% to 3.1% growth for the year. The labor market is strong, with a 3.7% unemployment rate in September and 96 months of employment expansion. However, there are signs of weakness in auto sales and housing, and the Federal Reserve is increasing interest rates due to trade wars. The Business cycle has not been abolished.

The New Mexico Economy is also improving, with an oil industry boom and a state revenue surplus. Non-Farm Employment increased by 1.96% from August 2017 to August 2018, the best in years, but still 2.9K jobs fewer than in December 2007. The unemployment rate is 4.6% in August 2018, but metro areas are doing well except for Las Cruces. Top performing sectors include Leisure and Hospitality (4.7%), Professional and Business Services (4.5%), and Construction (3.0%).

New Mexico's population growth reflects the state of the economy, with a 1.4% growth from 2010 to 2017, but 23 counties exhibiting population declines and 27 counties with negative net migration. From 2016 to 2017, the population grew by only 0.13%, with 19 counties exhibiting population declines and 20 counties with negative net migration.

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Description

New Mexico's economy benefits from oil boom, but water levels at Elephant Butte Reservoir are critically low at 3.1% capacity.

Technical Information

  • File Format: PDF
  • File Size: 721 KB
  • Pages: 22
  • Language: EN
  • Author: Peach, James
  • Total Downloads: 203
  • Last Updated: 3 days ago

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