State of the Albuquerque Economy

Taking a glimpse at economic trends in 2012

With the recent election, the state of the U.S. economy was on nearly everyone’s minds. Recent reports in the economy show mixed signals as to whether or not the economy is recovering.

While unemployment rates have fallen from their highs in 2009 and 2010, they have remained stubbornly high, hovering around 8% for several years. With two recent months of less than 8% unemployment, some people are confident that the economy is beginning to recover.

U.S. Unemployment Rates Since 2009

The Albuquerque economy is doing better than the U.S. average. In fact, the unemployment rate is currently at 6% in Albuquerque. It has stayed between 6-7% for all of 2012. The New Mexico unemployment rate, on the other hand is slightly higher at 6.4%.

Albuquerque unemployment rates

What does this mean for you? It means that while the Albuquerque economy isn’t thriving as much as most people would want, it is doing better than the national average and is improving. So keep your head up and your hopes up. Things look like they are improving in Albuquerque and New Mexico.

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