New Mexico: NMSU predicts tepid economic growth

AP News
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Posted: Jan 20, 2012 10:21 AM
New Mexico: NMSU predicts tepid economic growth

New Mexico State University economist Jim Peach says New Mexico's economy will continue to grow at a tepid pace in 2012, mirroring the national recovery.

Peach predicts the state economy will generate between 8,000 and 12,000 non-farm payroll jobs this year, which is consistent with historic averages.

But he says it will take New Mexico three or four years to have as many jobs as it did when the state entered the recession in 2008. Still, he says, the New Mexico labor market appears to be in better shape than the national labor market.

Total personal income in the state, Peach says, should grow between 4 percent and 5 percent.