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Wed January 16, 2013
Economist Says Migration Keeps NM Jobless Rate Low
An economist says one reason why New Mexico's unemployment rate is only 6.2 percent could be because some people leave the state to find work elsewhere.
University of New Mexico economist Lee Reynis says natural population growth and migration into the state increased the state's overall population in the 12 months ended last July.
But Reynis says that 7,500 more people moved out of the state than moved in during the same period.
She says the migration imbalance would produce a smaller workforce, resulting in a smaller share of the workforce that is unemployed despite the absence of job growth.
The Albuquerque Journal reports that Reynis addressed the Eighth Annual Economic Outlook Conference on Tuesday in Albuquerque.
Information from: Albuquerque Journal.
Copyright 2013 The Associated Press.