New Mexico ‘worst-run’ state in the nation. Again.

A high poverty rate, dire budget situation and high unemployment led to New Mexico once again being named the worst-run state in the nation, according to a list compiled by 24/7 Wall St. This is the second year in a row that the publication ranked New Mexico as the worst-run state in the country. The […]

A high poverty rate, dire budget situation and high unemployment led to New Mexico once again being named the worst-run state in the nation, according to a list compiled by 24/7 Wall St.

This is the second year in a row that the publication ranked New Mexico as the worst-run state in the country.

The site ranks the states based on “measures of financial health and fiscal responsibility, as well as socioeconomic outcomes such as unemployment, poverty, and crime — conditions state governments are tasked with managing and improving.”

In addition to other economic factors, 24/7 Wall St. cited Moody’s Investor Services downgrading the state’s credit rating which came because of a general lack of general fund reserves.

New Mexico is also seeing stagnant population growth, another indicator the New York-based publication looks at.

The unemployment rate in 2015 was 6.6 percent, or the third-highest in the nation. Meanwhile, 20.4 percent of residents in the state are living in poverty.

On the other end of the scale, North Dakota ranked as the best-run state in America. The economic conditions were aided by a boom in oil and gas drilling in the Bakken shale oil formation, which led to more jobs and higher wages in the state.

In 2014, New Mexico ranked 49th, behind every state except Illinois. In 2010, when 24/7 Wall St.began compiling the list, New Mexico ranked 37th.

Here is the full excerpt about New Mexico from 24/7 Wall St.

50. New Mexico

> Debt per capita: $3,303 (24th lowest)

> 2015 Unemployment rate: 6.6% (3rd highest)

> Credit rating: Aa1/AA

> Poverty: 20.4% (2nd highest)

New Mexico ranks as the worst run state on our list for the second consecutive year. Following a large and unexpected tax shortfall in the state’s fiscal 2016 and 2017 budgets, Moody’s downgraded the state’s credit rating and outlook. Despite the outlook, according to the credit agency, New Mexico has a strong history of balancing its budget, and the state’s debt levels are manageable and on the decline.

The likelihood of living in poverty is very high for individuals without a high school diploma. In New Mexico, fewer than 85% of adults have a high school diploma, nearly the lowest high school attainment rate, and more than 20% of state residents live in poverty, the second highest rate of all states. Like most poorly-run states, New Mexico’s labor market is struggling. The state’s labor force declined over the last five years, and 6.5% of workers were unemployed as of October, the highest October jobless rate of all states.




We're ad free

That means that we rely on support from readers like you. Help us keep reporting on the most important New Mexico Stories by donating today.

Related

Senators throw support to embattled Ivey-Soto

Senators throw support to embattled Ivey-Soto

By Justin Horwath, New Mexico In Dept Sen. Daniel Ivey-Soto is running for a fourth term despite the state Democratic Party’s decision to censure…
AG announces legislative priorities for upcoming special session

AG announces legislative priorities for upcoming special session

Attorney General Raúl Torrez announced on Thursday his legislative priorities for July’s special legislative session, including the creation of a crime victim’s unit to…
Correa Hemphill to step down from legislature

Correa Hemphill to step down from legislature

State Sen. Siah Correa Hemphill, a Democrat from Silver City, won’t seek reelection in the general election in November, leaving SD 28, a swing…
Environmental historian reflects on the legacies of Aldo Leopold and the Gila Wilderness

Environmental historian reflects on the legacies of Aldo Leopold and the Gila Wilderness

One hundred years ago, conservationist Aldo Leopold proposed designating 500,000 acres of land in the Gila National Forest as an area where no roads…

A rare NM lizard is now listed as endangered

The U.S. Fish and Wildlife Service added the dunes sagebrush lizard to the list of endangered species on Friday and is expected to designate…
Interior announces $520 million of funding for water projects

Interior announces $520 million of funding for water projects

The U.S. Department of Interior announced $520 million in funding for 57 projects throughout the United States to improve water infrastructure and drought resiliency…
Amid new graduation requirements, what do high schoolers want to learn?

Amid new graduation requirements, what do high schoolers want to learn?

By Margaret O’Hara, The Santa Fe New Mexican The main things that bring Brayan Chavez to school every day: Seeing, talking to and engaging with…
Special ed teachers hope lawmakers OK pay raises, admin changes

Special ed teachers hope lawmakers OK pay raises, admin changes

By Margaret O’Hara, The Santa Fe New Mexican Brittany Behenna Griffith has a laundry list of adjectives to describe the ideal special education teacher:…
Lawmakers must find consensus on competing education spending plans

Lawmakers must find consensus on competing education spending plans

By Margaret O’Hara, The Santa Fe New Mexican A challenging task awaits New Mexico lawmakers in the next 30 days: Reconciling three very different…
Heinrich questions FDA leadership on baby formula safety, mifepristone

Heinrich questions FDA leadership on baby formula safety, mifepristone

U.S. Food and Drug Administration Commissioner Dr. Robert Califf answered questions about the safety of human milk formula and mifepristone on Wednesday. Sen. Martin…
Health workers fear it’s profits before protection as CDC revisits airborne transmission

Health workers fear it’s profits before protection as CDC revisits airborne transmission

Amy Maxmen, KFF Health News Four years after hospitals in New York City overflowed with covid-19 patients, emergency physician Sonya Stokes remains shaken by…
Lujan Grisham, Biden admin announce $10 million in federal funds for tribes, pueblos

Lujan Grisham, Biden admin announce $10 million in federal funds for tribes, pueblos

Gov. Michelle Lujan Grisham announced Friday $10 million in funding from the federal American Rescue Plan Act was awarded to six tribal nations and…
UNM approves land acquisition for Las Cruces reproductive health center

UNM approves land acquisition for Las Cruces reproductive health center

Thursday, the University of New Mexico Board of Regents approved a land acquisition for a full-spectrum reproductive healthcare center, that will include abortion care,…
Heinrich questions FDA leadership on baby formula safety, mifepristone

Heinrich questions FDA leadership on baby formula safety, mifepristone

U.S. Food and Drug Administration Commissioner Dr. Robert Califf answered questions about the safety of human milk formula and mifepristone on Wednesday. Sen. Martin…
Correa Hemphill to step down from legislature

Correa Hemphill to step down from legislature

State Sen. Siah Correa Hemphill, a Democrat from Silver City, won’t seek reelection in the general election in November, leaving SD 28, a swing…
Study: Marriage equality has had a positive impact

Study: Marriage equality has had a positive impact

A recent study found that in the 20 years since Massachusetts became the first state in the U.S. to grant same-sex marriage licenses, same-sex…
UNM approves land acquisition for Las Cruces reproductive health center

UNM approves land acquisition for Las Cruces reproductive health center

Thursday, the University of New Mexico Board of Regents approved a land acquisition for a full-spectrum reproductive healthcare center, that will include abortion care,…
Heinrich questions FDA leadership on baby formula safety, mifepristone

Heinrich questions FDA leadership on baby formula safety, mifepristone

U.S. Food and Drug Administration Commissioner Dr. Robert Califf answered questions about the safety of human milk formula and mifepristone on Wednesday. Sen. Martin…
Senators throw support to embattled Ivey-Soto

Senators throw support to embattled Ivey-Soto

By Justin Horwath, New Mexico In Dept Sen. Daniel Ivey-Soto is running for a fourth term despite the state Democratic Party’s decision to censure…
Correa Hemphill to step down from legislature

Correa Hemphill to step down from legislature

State Sen. Siah Correa Hemphill, a Democrat from Silver City, won’t seek reelection in the general election in November, leaving SD 28, a swing…
Progressives going after incumbents in hot Democratic primaries

Progressives going after incumbents in hot Democratic primaries

By Justin Horwath, NM In Depth It’s a safe bet Democrats will barrel into 2025 with their supremacy intact at the New Mexico Legislature.…
Environmental historian reflects on the legacies of Aldo Leopold and the Gila Wilderness

Environmental historian reflects on the legacies of Aldo Leopold and the Gila Wilderness

One hundred years ago, conservationist Aldo Leopold proposed designating 500,000 acres of land in the Gila National Forest as an area where no roads…
Senators throw support to embattled Ivey-Soto

Senators throw support to embattled Ivey-Soto

By Justin Horwath, New Mexico In Dept Sen. Daniel Ivey-Soto is running for a fourth term despite the state Democratic Party’s decision to censure…
Study: Marriage equality has had a positive impact

Study: Marriage equality has had a positive impact

A recent study found that in the 20 years since Massachusetts became the first state in the U.S. to grant same-sex marriage licenses, same-sex…

GET INVOLVED

© 2023 New Mexico Political Report