Sandoval County vs. New Mexico
Comparative Trends Analysis:
Average Earnings Per Job Growth and Change, 1969-2022
Introduction
Sandoval County vs. New Mexico
Sandoval County:
2022 Avg. Earnings = $50,992
2022 Percent of State = 85.04%
New Mexico:
2022 Avg. Earnings = $59,962
The United States economy has generated an impressive number of jobs since the 1970s. The contrast between the nation's vigorous employment growth and the modest performance of other major industrial countries is striking. Despite this rosy track record, the real (inflation adjusted) wages and salaries of many workers have stagnated or slipped in recent years. This development has provoked concerns about the quality of new jobs. Structural shifts in the composition of employment--from high-wage goods-producing to low-wage services-related sectors--is the culprit most often cited for the deteriorating quality of jobs.
Regions vary greatly in the make-up of their labor force, in their industry composition of employment, and their economic experience. Reviewing and examining recent developments in average earnings per job in Sandoval County with comparisons to New Mexico and the nation is an important first step in understanding the economic forces at play in Sandoval County.
Discussion: Average Annual Earnings Per Job are computed by dividing BEA total industry earnings estimates by the BEA total full- and part-time jobs estimates. No convenient or adequate means exist at the county or regional level for converting the job estimates to a full-time equivalent measure. So, interpret the average earnings per job estimates with caution in consideration of the following issues:
Average earnings per job within industries involving more part-time work is lower than industries involving more full-time work, although there could be little difference in the underlying wage of full-time workers. Such differences could also prevail between counties and regions. An increase in the proportion of part-time jobs over time may erode average earnings per job estimates, although full-time earnings per worker may have remained unchanged.
As with per capita income, average earnings per job may be subject to extreme short-run variation, especially in smaller counties. Major construction projects relating to building dams, nuclear power plants, and private plant construction projects have caused extreme fluctuations in many smaller counties. Such changes typify both small and large agriculture-dependent counties owing to the extreme annual variations in farm incomes. Also, Since average earnings per job are just a simple average, it does not account for variations in the distribution of earnings among high- vs. low-wage jobs.
Sandoval County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Sandoval County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Sandoval County's annual average earnings per job over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Sandoval County over time.
When measured in current dollars, Sandoval County's average earnings per job increased 748.44%, from $6,010 in 1970 to $50,992 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 44.52%, from $30,406 in 1970 to $43,942 in 2022.
Real Average Earnings Per Job, 1969-2022
Real Average Earnings Per Job, 1969-2022
Figure 2.
Figure 2 tracks Sandoval County's and New Mexico's annual real average earnings per job for the period 1969-2022 to illustrate real average earnings per job patterns over time. During this 54-year period, Sandoval County's real average earnings per job rose from $29,428 in 1969 to $43,942 in 2022, for a net gain of $14,514, or 49.32%. In comparison, New Mexico's real average earnings per job advanced from $34,386 in 1969 to $51,672 in 2022, for a net gain of $17,286, or 50.27%.
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Sandoval County's real average earnings per job growth in a broader context by offering direct comparisons across time with New Mexico, the United States. The growth indices shown here express each region's real average earnings per job in 1969 as a base figure of 100, and the real average earnings per jobs in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real average earnings per job growth between regions that may differ vastly in size.
Sandoval County's overall real average earnings per job growth was 49.32% over 1969-2022 trailed New Mexico's increase of 50.27%, and fell below the United States' increase of 62.26%.
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 portrays the trends for average earnings per job relative to the national average by tracing Sandoval County and New Mexico average earnings per job as a percent of the national average over 1969-2022.
In 1969, Sandoval County's average earnings per job amounted to 77.41% of the national average; in 2022, it approximated 71.23%. Similarly, in 1969, New Mexico's average earnings per job totaled 90.45% of the national average; in 2022, it consisted of 83.76%.
Sandoval County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Sandoval County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 highlights the short-run pattern of Sandoval County's real average earnings per job growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also traced on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.
On average, Sandoval County's real average earnings per job grew at an annual rate of 0.86% over 1970-2022. The county recorded its highest growth in 2000 (14.71%) and posted its lowest growth in 1975 (-7.19%). In 2022, Sandoval County's real average earnings per job declined by -1.34%
Sandoval County Real Average Earnings Per Job:
Annual Percent Change and Decade Averages Over 1970-2022
Sandoval County Real Average Earnings Per Job:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again traces the annual percent change in Sandoval County's real average earnings per job since 1970, but this time they are displayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Sandoval County's annual real average earnings per job growth rate averaged 0.40%. It averaged -0.51% in the 1980s, 4.63% throughout the 1990s, -0.50% during the 2000s, 0.41% throughout the 2010s, 0.48% thus far this decade (2020-2022).
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Sandoval County noted in the previous graph with the corresponding decade averages for New Mexico and the nation. As the chart reveals, Sandoval County's average annual real average earnings per job growth fell below New Mexico's average during the 1970s (0.40% vs. 0.96%), trailed New Mexico's average in the 1980s (-0.51% vs. -0.39%), registered above New Mexico's average during the 1990s (4.63% vs. 1.25%), lagged New Mexico's average in the 2000s (-0.50% vs. 1.53%), lagged New Mexico's average throughout the 2010s (0.41% vs. 0.69%), and topped New Mexico's average over the 3 year period of the current decade, 2020-2022 (0.48% vs. 0.40%).
Finally, relative to nationwide real average earnings per job growth trends, Sandoval County fell under the nation over the 1970s (0.40% vs. 0.89%), trailed the nation in the 1980s (-0.51% vs. 0.71%), registered above the nation during the 1990s (4.63% vs. 1.68%), fell below the nation during the 2000s (-0.50% vs. 0.72%), posted below the nation during the 2010s (0.41% vs. 1.01%), and exceeded the nation over 2020-2022 (0.48% vs. -0.24%).
   
 
Real* Average Earnings Per Job Growth:
Average Annual Percent Change
 
 
 
0.86
0.40
-0.51
4.63
-0.50
0.41
0.48
-1.34
 
0.78
0.96
-0.39
1.25
1.53
0.69
0.40
-2.96
 
0.93
0.89
0.71
1.68
0.72
1.01
-0.24
-4.51
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Sandoval County:
Average Earnings Per Job, 1969-2022
 
1969
 
5,557
0.189
29,428
100.0
N
85.58
77.41
1970
 
6,010
0.198
30,406
103.3
3.32
86.12
79.12
1971
 
6,603
0.206
32,047
108.9
5.40
89.92
81.49
1972
 
7,066
0.213
33,163
112.7
3.48
90.48
81.31
1973
 
7,704
0.225
34,307
116.6
3.45
92.10
82.51
1974
 
8,306
0.248
33,502
113.8
-2.35
93.07
83.66
1975
 
8,351
0.269
31,093
105.7
-7.19
85.34
77.96
1976
 
8,981
0.283
31,698
107.7
1.95
85.56
77.77
1977
 
9,584
0.302
31,761
107.9
0.20
85.01
77.22
1978
 
10,149
0.323
31,444
106.8
-1.00
82.62
75.42
1979
 
10,687
0.351
30,411
103.3
-3.28
80.49
73.36
1980
 
11,705
0.389
30,069
102.2
-1.13
81.28
74.76
1981
 
12,007
0.424
28,309
96.2
-5.85
76.48
70.36
1982
 
12,295
0.448
27,461
93.3
-3.00
74.55
68.34
1983
 
13,363
0.467
28,630
97.3
4.26
77.71
70.63
1984
 
14,525
0.484
29,986
101.9
4.74
80.19
71.97
1985
 
14,854
0.501
29,632
100.7
-1.18
78.44
70.30
1986
 
14,418
0.512
28,149
95.7
-5.00
74.51
65.31
1987
 
14,267
0.528
27,020
91.8
-4.01
72.51
61.69
1988
 
15,780
0.549
28,762
97.7
6.45
79.17
64.65
1989
 
16,411
0.573
28,659
97.4
-0.36
78.94
64.46
1990
 
18,096
0.598
30,274
102.9
5.63
82.23
68.03
1991
 
19,975
0.618
32,336
109.9
6.81
87.23
72.54
1992
 
21,500
0.634
33,901
115.2
4.84
88.49
73.18
1993
 
24,727
0.650
38,042
129.3
12.21
97.61
82.15
1994
 
27,465
0.664
41,390
140.6
8.80
105.94
88.86
1995
 
28,623
0.678
42,246
143.6
2.07
108.94
90.57
1996
 
29,036
0.692
41,957
142.6
-0.68
108.20
88.50
1997
 
30,232
0.704
42,939
145.9
2.34
108.50
88.35
1998
 
29,754
0.710
41,927
142.5
-2.36
103.33
82.63
1999
 
32,184
0.720
44,700
151.9
6.61
108.85
85.25
2000
 
37,852
0.738
51,274
174.2
14.71
120.83
94.86
2001
 
35,970
0.753
47,767
162.3
-6.84
108.78
86.72
2002
 
35,183
0.763
46,117
156.7
-3.46
102.43
82.97
2003
 
35,529
0.779
45,613
155.0
-1.09
100.27
81.39
2004
 
36,575
0.798
45,818
155.7
0.45
99.08
80.46
2005
 
36,971
0.821
45,017
153.0
-1.75
96.58
79.26
2006
 
37,809
0.844
44,776
152.2
-0.54
95.16
78.05
2007
 
37,880
0.866
43,738
148.6
-2.32
93.38
76.71
2008
 
37,029
0.892
41,526
141.1
-5.06
87.96
73.62
2009
 
37,240
0.889
41,880
142.3
0.85
87.65
74.42
2010
 
39,542
0.905
43,686
148.5
4.31
88.82
75.76
2011
 
41,789
0.928
45,029
153.0
3.07
90.85
77.92
2012
 
42,532
0.945
44,991
152.9
-0.08
91.70
77.25
2013
 
41,323
0.958
43,144
146.6
-4.11
90.26
74.01
2014
 
41,097
0.971
42,315
143.8
-1.92
87.41
72.11
2015
 
41,486
0.973
42,638
144.9
0.76
87.73
71.52
2016
 
41,581
0.983
42,307
143.8
-0.78
86.88
71.10
2017
 
39,897
1.000
39,897
135.6
-5.70
81.74
66.13
2018
 
40,918
1.020
40,098
136.3
0.50
81.33
65.89
2019
 
44,853
1.035
43,331
147.2
8.06
84.78
69.63
2020
 
46,591
1.046
44,527
151.3
2.76
84.16
69.15
2021
 
48,549
1.090
44,540
151.4
0.03
83.65
68.94
2022
 
50,992
1.160
43,942
149.3
-1.34
85.04
71.23
Source: Calculations by the New Mexico Regional Economic Analysis Project (NM-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
New Mexico:
Average Earnings Per Job, 1969-2022
 
1969
 
6,493
0.189
34,386
100.0
N
90.45
1970
 
6,979
0.198
35,306
102.7
2.68
91.87
1971
 
7,344
0.206
35,640
103.6
0.95
90.63
1972
 
7,810
0.213
36,651
106.6
2.84
89.86
1973
 
8,364
0.225
37,250
108.3
1.63
89.59
1974
 
8,925
0.248
35,998
104.7
-3.36
89.90
1975
 
9,787
0.269
36,435
106.0
1.21
91.35
1976
 
10,497
0.283
37,048
107.7
1.68
90.89
1977
 
11,274
0.302
37,362
108.7
0.85
90.83
1978
 
12,284
0.323
38,060
110.7
1.87
91.28
1979
 
13,278
0.351
37,782
109.9
-0.73
91.14
1980
 
14,401
0.389
36,995
107.6
-2.08
91.98
1981
 
15,700
0.424
37,016
107.6
0.06
92.00
1982
 
16,492
0.448
36,837
107.1
-0.48
91.68
1983
 
17,195
0.467
36,840
107.1
0.01
90.88
1984
 
18,113
0.484
37,394
108.7
1.50
89.75
1985
 
18,937
0.501
37,777
109.9
1.02
89.62
1986
 
19,350
0.512
37,779
109.9
0.00
87.64
1987
 
19,677
0.528
37,265
108.4
-1.36
85.08
1988
 
19,931
0.549
36,328
105.6
-2.51
81.66
1989
 
20,789
0.573
36,305
105.6
-0.06
81.65
1990
 
22,007
0.598
36,816
107.1
1.41
82.74
1991
 
22,900
0.618
37,071
107.8
0.69
83.16
1992
 
24,295
0.634
38,308
111.4
3.34
82.70
1993
 
25,334
0.650
38,975
113.3
1.74
84.16
1994
 
25,926
0.664
39,071
113.6
0.25
83.88
1995
 
26,275
0.678
38,780
112.8
-0.74
83.14
1996
 
26,835
0.692
38,777
112.8
-0.01
81.79
1997
 
27,863
0.704
39,574
115.1
2.05
81.43
1998
 
28,795
0.710
40,575
118.0
2.53
79.96
1999
 
29,568
0.720
41,066
119.4
1.21
78.32
2000
 
31,328
0.738
42,437
123.4
3.34
78.51
2001
 
33,067
0.753
43,913
127.7
3.48
79.73
2002
 
34,348
0.763
45,022
130.9
2.53
81.00
2003
 
35,435
0.779
45,491
132.3
1.04
81.17
2004
 
36,916
0.798
46,245
134.5
1.66
81.21
2005
 
38,279
0.821
46,610
135.5
0.79
82.06
2006
 
39,733
0.844
47,055
136.8
0.96
82.02
2007
 
40,565
0.866
46,838
136.2
-0.46
82.14
2008
 
42,099
0.892
47,212
137.3
0.80
83.70
2009
 
42,485
0.889
47,778
138.9
1.20
84.90
2010
 
44,520
0.905
49,186
143.0
2.95
85.30
2011
 
46,000
0.928
49,567
144.1
0.77
85.77
2012
 
46,380
0.945
49,062
142.7
-1.02
84.23
2013
 
45,781
0.958
47,798
139.0
-2.58
81.99
2014
 
47,016
0.971
48,410
140.8
1.28
82.50
2015
 
47,287
0.973
48,600
141.3
0.39
81.52
2016
 
47,861
0.983
48,696
141.6
0.20
81.84
2017
 
48,807
1.000
48,807
141.9
0.23
80.90
2018
 
50,315
1.020
49,305
143.4
1.02
81.02
2019
 
52,908
1.035
51,112
148.6
3.66
82.13
2020
 
55,357
1.046
52,905
153.9
3.51
82.16
2021
 
58,039
1.090
53,246
154.8
0.65
82.42
2022
 
59,962
1.160
51,672
150.3
-2.96
83.76
Source: Calculations by the New Mexico Regional Economic Analysis Project (NM-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
United States:
Average Earnings Per Job, 1969-2022
 
1969
 
7,179
0.189
38,018
100.0
N
1970
 
7,596
0.198
38,430
101.1
1.08
1971
 
8,103
0.206
39,326
103.4
2.33
1972
 
8,691
0.213
40,786
107.3
3.71
1973
 
9,336
0.225
41,579
109.4
1.94
1974
 
9,928
0.248
40,044
105.3
-3.69
1975
 
10,713
0.269
39,883
104.9
-0.40
1976
 
11,549
0.283
40,761
107.2
2.20
1977
 
12,412
0.302
41,131
108.2
0.91
1978
 
13,457
0.323
41,694
109.7
1.37
1979
 
14,568
0.351
41,454
109.0
-0.58
1980
 
15,657
0.389
40,220
105.8
-2.98
1981
 
17,066
0.424
40,237
105.8
0.04
1982
 
17,989
0.448
40,181
105.7
-0.14
1983
 
18,920
0.467
40,535
106.6
0.88
1984
 
20,181
0.484
41,663
109.6
2.78
1985
 
21,130
0.501
42,152
110.9
1.17
1986
 
22,078
0.512
43,104
113.4
2.26
1987
 
23,126
0.528
43,799
115.2
1.61
1988
 
24,408
0.549
44,487
117.0
1.57
1989
 
25,460
0.573
44,462
117.0
-0.05
1990
 
26,599
0.598
44,498
117.0
0.08
1991
 
27,537
0.618
44,577
117.3
0.18
1992
 
29,378
0.634
46,323
121.8
3.92
1993
 
30,101
0.650
46,309
121.8
-0.03
1994
 
30,909
0.664
46,580
122.5
0.59
1995
 
31,605
0.678
46,646
122.7
0.14
1996
 
32,810
0.692
47,411
124.7
1.64
1997
 
34,218
0.704
48,600
127.8
2.51
1998
 
36,011
0.710
50,743
133.5
4.41
1999
 
37,751
0.720
52,432
137.9
3.33
2000
 
39,903
0.738
54,053
142.2
3.09
2001
 
41,477
0.753
55,080
144.9
1.90
2002
 
42,406
0.763
55,584
146.2
0.92
2003
 
43,655
0.779
56,045
147.4
0.83
2004
 
45,456
0.798
56,943
149.8
1.60
2005
 
46,648
0.821
56,800
149.4
-0.25
2006
 
48,442
0.844
57,368
150.9
1.00
2007
 
49,382
0.866
57,019
150.0
-0.61
2008
 
50,298
0.892
56,407
148.4
-1.07
2009
 
50,041
0.889
56,276
148.0
-0.23
2010
 
52,191
0.905
57,661
151.7
2.46
2011
 
53,633
0.928
57,792
152.0
0.23
2012
 
55,061
0.945
58,245
153.2
0.78
2013
 
55,837
0.958
58,296
153.3
0.09
2014
 
56,990
0.971
58,680
154.3
0.66
2015
 
58,005
0.973
59,615
156.8
1.59
2016
 
58,480
0.983
59,501
156.5
-0.19
2017
 
60,329
1.000
60,329
158.7
1.39
2018
 
62,102
1.020
60,856
160.1
0.87
2019
 
64,419
1.035
62,233
163.7
2.26
2020
 
67,378
1.046
64,393
169.4
3.47
2021
 
70,421
1.090
64,606
169.9
0.33
2022
 
71,586
1.160
61,690
162.3
-4.51
Source: Calculations by the New Mexico Regional Economic Analysis Project (NM-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PN
 
   
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