SANTA FE, N.M. (AP) - A vice president and research adviser to the Federal Reserve Bank of Dallas says job growth in New Mexico is accelerating.
Dallas-branch Federal Reserve Vice President Mine Yucel told a panel of state legislators Friday that job growth for the current year already has eclipsed 2018 growth.
She says the state economy is on track to add 20,000 jobs by year’s end and that construction is the fastest growing sector for employment. Statewide, employment has increased 2.6% since 2018.
Yucel also noted a growing dependence by New Mexico state government on revenues from the oil industry.
State lawmakers are investing a windfall in tax revenue into road construction, higher public-sector salaries and incentives for the film industry.
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This version corrects that construction is the fastest growing sector for jobs.
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