According to a recent article in New Mexico Business Weekly, Las Cruces is faring better than most of the nation in the economic downturn.   Senior economist for Wells Fargo says that we haven’t seen the worst of the crisis, which he predicts will come later this year. New Mexico currently beats the national average for unemployment with 1.1% growth in the second quarter of last year, and .6% growth in the third quarter.

“Most sectors have taken a hit with job losses, especially construction, following double digit declines in new housing permits. The bright spots continue to be health care, which gained 3,633 jobs in the third quarter, and government, which gained 2,500 jobs in the third quarter. Of those government jobs, 2,000 were in local government and that’s coming from the growth of tribal enterprises around the state, Waldman said. Gaming continues to boom here and is a one billion dollar industry, Waldman said.

Among the state’s metropolitan areas, Las Cruces and Farmington are faring much better these days than Albuquerque and Santa Fe. Las Cruces saw employment growth of nearly two percent in the third quarter and Farmington recorded almost three percent growth. Albuquerque had negative growth of 0.2 percent and Santa Fe was down almost one percent.”

To read the whole article, visit the New Mexico Business Journals website, and let us know your thoughts on the economic situation in Las Cruces, and New Mexico!

Read the whole article here.