| Las Cruces MSA vs. New Mexico Comparative Trends Analysis: Total Industry Earnings Growth and Change, 1969-2022 Introduction Las Cruces MSA: 2022 Earnings = $5,759,546K 2022 Percent of State = 0.04% New Mexico: 2022 Earnings = $68,326,314K 2022 Percent of U.S. = 0.45% Industry earnings are incomes received by people who are directly involved with producing goods and services. Earnings, referred to also as "labor and proprietors income", include (1) wage and salary disbursements, (2) other labor income such as employer contributions to private retirement and medical insurance programs, and (3) the net incomes of proprietors (i.e., the owners of unincorporated enterprises). In contrast to the more frequently cited employment data, earnings data more accurately reflect qualitative differences in labor's contributions toward the production of goods and services, namely the productivity differences reflected in variations in earnings per job. Earnings data, therefore, are better for comparing and tracking long-term trends and identifying short-run shifts in the level and composition of economic activity within and among counties. Just like the employment data compiled by BEA, earnings data are reported on a place-of-work, or more accurately on a place-where-earned, basis. Note: the BEA earnings data presented and discussed here in the context of comparing and assessing the economic growth and performance of county and regional economies are entirely separate and apart from--and should not be confused with--corporate earnings, which are compiled from the balance sheets of individual private corporations. Figure 1. Figure 1 depicts the Las Cruces MSA's annual total industry earnings 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 the Las Cruces MSA over time. When measured in current dollars, the Las Cruces MSA's total industry earnings increased 2,893.71%, from $192M in 1970 to $5,760M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 409.93%, from $973M in 1970 to $4,963M in 2022. Figure 2. Figure 2 traces the Las Cruces MSA's and New Mexico's annual real total industry earnings for the period 1969-2022 to illustrate real total industry earnings patterns over time. During this 54-year period, the Las Cruces MSA's real total industry earnings rose from $959M in 1969 to $4,963M in 2022, for a net gain of $4,004M, or 417.48%. In comparison, New Mexico's real total industry earnings increased from $13,576M in 1969 to $58,880M in 2022, for a net gain of $45,305M, or 333.72%. Figure 3. Figure 3 portrays the Las Cruces MSA's real total industry earnings 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 total industry earnings in 1969 as a base figure of 100, and the real total industry earningss in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real total industry earnings growth between regions that may differ vastly in size. The Las Cruces MSA's overall real total industry earnings growth was 417.48% over 1969-2022 outpaced New Mexico's increase of 333.72%, and outpaced the United States' increase of 278.59%. Figure 4. Another interesting and insightful way of comparing the total industry earnings growth of the Las Cruces MSA is to trace its individual percentage contributions to New Mexico's statewide total industry earnings over time, as shown in Figure 4. A rising share means a region's total industry earnings grew faster, or declined less, than New Mexico's total industry earnings, while a declining share shows it grew more slowly. In 1969, the Las Cruces MSA's total industry earnings totaled 7.07% of New Mexico's total industry earnings, while in 2022 it comprised 8.43% thereby yielding a +1.36% share-shift. | | | | Total Industry Earnings Share-Shift 2022 vs. 1969 | Share- Shift* | | 2022 | vs. | 1969 | | +1.36% | = | 8.43% | - | 7.07% |
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Figure 5. Figure 5 shows the short-run pattern of the Las Cruces MSA's real total industry earnings 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 illustrated 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, the Las Cruces MSA's real total industry earnings grew at an annual rate of 3.21% over 1970-2022. The Las Cruces MSA posted its highest growth in 2001 (11.31%) and posted its lowest growth in 1975 (-5.29%). In 2022, the Las Cruces MSA's real total industry earnings declined by -1.15% Figure 6. Over the past five decades some msas have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again illustrates the annual percent change in the Las Cruces MSA's real total industry earnings since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022. During the 1970s, the Las Cruces MSA's annual real total industry earnings growth rate averaged 3.46%. It averaged 3.89% during the 1980s, 3.34% during the 1990s, 4.93% throughout the 2000s, 1.06% throughout the 2010s, 1.12% thus far this decade (2020-2022). Figure 7. Figure 7 compares the decade average growth rates for the Las Cruces MSA noted in the previous graph with the corresponding decade averages for New Mexico and the nation. As the chart reveals, the Las Cruces MSA's average annual real total industry earnings growth lagged New Mexico's average throughout the 1970s (3.46% vs. 5.15%), outperformed New Mexico's average during the 1980s (3.89% vs. 1.98%), posted below New Mexico's average in the 1990s (3.34% vs. 3.60%), surpassed New Mexico's average in the 2000s (4.93% vs. 2.86%), recorded under New Mexico's average in the 2010s (1.06% vs. 1.10%), and outgained New Mexico's average over the 3 year period of the current decade, 2020-2022 (1.12% vs. 1.05%). Finally, relative to nationwide real total industry earnings growth trends, the Las Cruces MSA recorded above the nation during the 1970s (3.46% vs. 3.13%), registered above the nation during the 1980s (3.89% vs. 2.62%), fell under the nation in the 1990s (3.34% vs. 3.43%), outpaced the nation over the 2000s (4.93% vs. 1.47%), recorded underneath the nation throughout the 2010s (1.06% vs. 2.53%), and trailed the nation over 2020-2022 (1.12% vs. 1.48%). | | | | Real* Total Industry Earnings Growth: Average Annual Percent Change | | | | | | | | | | | | | | | | | | | | | 3.21 | 3.46 | 3.89 | 3.34 | 4.93 | 1.06 | 1.12 | -1.15 | | | 2.83 | 5.15 | 1.98 | 3.60 | 2.86 | 1.10 | 1.05 | 1.21 | | | 2.57 | 3.13 | 2.62 | 3.43 | 1.47 | 2.53 | 1.48 | 0.05 |
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Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | Las Cruces MSA: Total Industry Earnings, 1969-2022 | | | | | | | | | 1969 | | 181,112 | 0.189 | 959,127 | 100.0 | N | 0.03 | 1970 | | 192,388 | 0.198 | 973,328 | 101.5 | 1.48 | 0.03 | 1971 | | 215,910 | 0.206 | 1,047,852 | 109.3 | 7.66 | 0.03 | 1972 | | 231,661 | 0.213 | 1,087,202 | 113.4 | 3.76 | 0.03 | 1973 | | 253,322 | 0.225 | 1,128,132 | 117.6 | 3.76 | 0.03 | 1974 | | 287,007 | 0.248 | 1,157,613 | 120.7 | 2.61 | 0.03 | 1975 | | 294,490 | 0.269 | 1,096,389 | 114.3 | -5.29 | 0.03 | 1976 | | 338,880 | 0.283 | 1,196,061 | 124.7 | 9.09 | 0.03 | 1977 | | 382,956 | 0.302 | 1,269,075 | 132.3 | 6.10 | 0.03 | 1978 | | 438,916 | 0.323 | 1,359,884 | 141.8 | 7.16 | 0.03 | 1979 | | 469,405 | 0.351 | 1,335,700 | 139.3 | -1.78 | 0.03 | 1980 | | 508,630 | 0.389 | 1,306,592 | 136.2 | -2.18 | 0.03 | 1981 | | 579,991 | 0.424 | 1,367,420 | 142.6 | 4.66 | 0.03 | 1982 | | 629,112 | 0.448 | 1,405,177 | 146.5 | 2.76 | 0.03 | 1983 | | 720,083 | 0.467 | 1,542,726 | 160.8 | 9.79 | 0.04 | 1984 | | 782,149 | 0.484 | 1,614,709 | 168.4 | 4.67 | 0.04 | 1985 | | 848,143 | 0.501 | 1,691,955 | 176.4 | 4.78 | 0.04 | 1986 | | 914,459 | 0.512 | 1,785,390 | 186.1 | 5.52 | 0.04 | 1987 | | 968,300 | 0.528 | 1,833,832 | 191.2 | 2.71 | 0.04 | 1988 | | 1,012,682 | 0.549 | 1,845,771 | 192.4 | 0.65 | 0.03 | 1989 | | 1,114,983 | 0.573 | 1,947,194 | 203.0 | 5.49 | 0.04 | 1990 | | 1,202,417 | 0.598 | 2,011,572 | 209.7 | 3.31 | 0.04 | 1991 | | 1,277,209 | 0.618 | 2,067,551 | 215.6 | 2.78 | 0.04 | 1992 | | 1,404,080 | 0.634 | 2,213,939 | 230.8 | 7.08 | 0.04 | 1993 | | 1,471,232 | 0.650 | 2,263,434 | 236.0 | 2.24 | 0.04 | 1994 | | 1,491,803 | 0.664 | 2,248,181 | 234.4 | -0.67 | 0.04 | 1995 | | 1,611,692 | 0.678 | 2,378,741 | 248.0 | 5.81 | 0.04 | 1996 | | 1,645,433 | 0.692 | 2,377,690 | 247.9 | -0.04 | 0.04 | 1997 | | 1,736,270 | 0.704 | 2,466,047 | 257.1 | 3.72 | 0.04 | 1998 | | 1,873,269 | 0.710 | 2,639,634 | 275.2 | 7.04 | 0.04 | 1999 | | 1,941,324 | 0.720 | 2,696,246 | 281.1 | 2.14 | 0.04 | 2000 | | 2,055,775 | 0.738 | 2,784,773 | 290.3 | 3.28 | 0.03 | 2001 | | 2,334,125 | 0.753 | 3,099,685 | 323.2 | 11.31 | 0.04 | 2002 | | 2,530,885 | 0.763 | 3,317,410 | 345.9 | 7.02 | 0.04 | 2003 | | 2,761,296 | 0.779 | 3,544,941 | 369.6 | 6.86 | 0.04 | 2004 | | 2,981,061 | 0.798 | 3,734,402 | 389.4 | 5.34 | 0.04 | 2005 | | 3,269,032 | 0.821 | 3,980,460 | 415.0 | 6.59 | 0.05 | 2006 | | 3,435,451 | 0.844 | 4,068,511 | 424.2 | 2.21 | 0.04 | 2007 | | 3,619,201 | 0.866 | 4,178,878 | 435.7 | 2.71 | 0.05 | 2008 | | 3,677,877 | 0.892 | 4,124,568 | 430.0 | -1.30 | 0.05 | 2009 | | 3,858,962 | 0.889 | 4,339,765 | 452.5 | 5.22 | 0.05 | 2010 | | 4,145,142 | 0.905 | 4,579,559 | 477.5 | 5.53 | 0.05 | 2011 | | 4,162,197 | 0.928 | 4,484,933 | 467.6 | -2.07 | 0.05 | 2012 | | 4,070,591 | 0.945 | 4,305,954 | 448.9 | -3.99 | 0.05 | 2013 | | 4,058,860 | 0.958 | 4,237,646 | 441.8 | -1.59 | 0.04 | 2014 | | 4,144,393 | 0.971 | 4,267,247 | 444.9 | 0.70 | 0.04 | 2015 | | 4,293,362 | 0.973 | 4,412,545 | 460.1 | 3.40 | 0.04 | 2016 | | 4,450,170 | 0.983 | 4,527,868 | 472.1 | 2.61 | 0.04 | 2017 | | 4,545,620 | 1.000 | 4,545,620 | 473.9 | 0.39 | 0.04 | 2018 | | 4,728,830 | 1.020 | 4,633,973 | 483.1 | 1.94 | 0.04 | 2019 | | 4,972,700 | 1.035 | 4,803,938 | 500.9 | 3.67 | 0.04 | 2020 | | 5,047,042 | 1.046 | 4,823,474 | 502.9 | 0.41 | 0.04 | 2021 | | 5,473,014 | 1.090 | 5,021,068 | 523.5 | 4.10 | 0.04 | 2022 | | 5,759,546 | 1.160 | 4,963,286 | 517.5 | -1.15 | 0.04 |
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_1200_PSN | | | | |
Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | New Mexico: Total Industry Earnings, 1969-2022 | | | | | | | | | 1969 | | 2,563,492 | 0.189 | 13,575,661 | 100.0 | N | 0.39 | 1970 | | 2,783,763 | 0.198 | 14,083,593 | 103.7 | 3.74 | 0.40 | 1971 | | 3,055,474 | 0.206 | 14,828,799 | 109.2 | 5.29 | 0.41 | 1972 | | 3,439,241 | 0.213 | 16,140,609 | 118.9 | 8.85 | 0.42 | 1973 | | 3,853,342 | 0.225 | 17,160,285 | 126.4 | 6.32 | 0.42 | 1974 | | 4,266,255 | 0.248 | 17,207,498 | 126.8 | 0.28 | 0.43 | 1975 | | 4,803,079 | 0.269 | 17,881,902 | 131.7 | 3.92 | 0.45 | 1976 | | 5,378,513 | 0.283 | 18,983,210 | 139.8 | 6.16 | 0.46 | 1977 | | 6,076,453 | 0.302 | 20,136,708 | 148.3 | 6.08 | 0.47 | 1978 | | 6,980,390 | 0.323 | 21,627,184 | 159.3 | 7.40 | 0.47 | 1979 | | 7,862,380 | 0.351 | 22,372,535 | 164.8 | 3.45 | 0.48 | 1980 | | 8,598,121 | 0.389 | 22,087,241 | 162.7 | -1.28 | 0.48 | 1981 | | 9,590,454 | 0.424 | 22,610,996 | 166.6 | 2.37 | 0.49 | 1982 | | 10,210,113 | 0.448 | 22,805,193 | 168.0 | 0.86 | 0.50 | 1983 | | 10,856,410 | 0.467 | 23,259,084 | 171.3 | 1.99 | 0.50 | 1984 | | 11,866,810 | 0.484 | 24,498,462 | 180.5 | 5.33 | 0.49 | 1985 | | 12,766,408 | 0.501 | 25,467,619 | 187.6 | 3.96 | 0.49 | 1986 | | 13,156,086 | 0.512 | 25,685,949 | 189.2 | 0.86 | 0.47 | 1987 | | 13,745,759 | 0.528 | 26,032,648 | 191.8 | 1.35 | 0.46 | 1988 | | 14,615,784 | 0.549 | 26,639,541 | 196.2 | 2.33 | 0.45 | 1989 | | 15,562,577 | 0.573 | 27,178,319 | 200.2 | 2.02 | 0.45 | 1990 | | 16,756,022 | 0.598 | 28,031,823 | 206.5 | 3.14 | 0.46 | 1991 | | 17,960,578 | 0.618 | 29,074,656 | 214.2 | 3.72 | 0.47 | 1992 | | 19,359,012 | 0.634 | 30,525,090 | 224.9 | 4.99 | 0.48 | 1993 | | 20,903,388 | 0.650 | 32,159,058 | 236.9 | 5.35 | 0.49 | 1994 | | 22,218,422 | 0.664 | 33,483,667 | 246.6 | 4.12 | 0.50 | 1995 | | 23,600,085 | 0.678 | 34,832,017 | 256.6 | 4.03 | 0.50 | 1996 | | 24,385,746 | 0.692 | 35,237,990 | 259.6 | 1.17 | 0.49 | 1997 | | 25,712,672 | 0.704 | 36,520,051 | 269.0 | 3.64 | 0.49 | 1998 | | 26,996,098 | 0.710 | 38,040,354 | 280.2 | 4.16 | 0.47 | 1999 | | 27,861,583 | 0.720 | 38,696,106 | 285.0 | 1.72 | 0.46 | 2000 | | 30,228,667 | 0.738 | 40,948,047 | 301.6 | 5.82 | 0.46 | 2001 | | 32,290,566 | 0.753 | 42,881,419 | 315.9 | 4.72 | 0.47 | 2002 | | 33,811,686 | 0.763 | 44,319,364 | 326.5 | 3.35 | 0.48 | 2003 | | 35,541,653 | 0.779 | 45,628,229 | 336.1 | 2.95 | 0.49 | 2004 | | 37,913,182 | 0.798 | 47,494,184 | 349.8 | 4.09 | 0.49 | 2005 | | 40,200,758 | 0.821 | 48,949,503 | 360.6 | 3.06 | 0.50 | 2006 | | 42,877,457 | 0.844 | 50,778,608 | 374.0 | 3.74 | 0.50 | 2007 | | 44,754,205 | 0.866 | 51,675,044 | 380.6 | 1.77 | 0.50 | 2008 | | 46,533,030 | 0.892 | 52,184,625 | 384.4 | 0.99 | 0.52 | 2009 | | 45,539,547 | 0.889 | 51,213,490 | 377.2 | -1.86 | 0.52 | 2010 | | 47,187,995 | 0.905 | 52,133,366 | 384.0 | 1.80 | 0.52 | 2011 | | 48,953,466 | 0.928 | 52,749,306 | 388.6 | 1.18 | 0.52 | 2012 | | 49,494,603 | 0.945 | 52,356,404 | 385.7 | -0.74 | 0.50 | 2013 | | 49,239,915 | 0.958 | 51,408,855 | 378.7 | -1.81 | 0.48 | 2014 | | 50,946,041 | 0.971 | 52,456,257 | 386.4 | 2.04 | 0.48 | 2015 | | 51,650,430 | 0.973 | 53,084,235 | 391.0 | 1.20 | 0.47 | 2016 | | 52,282,013 | 0.983 | 53,194,836 | 391.8 | 0.21 | 0.46 | 2017 | | 53,468,032 | 1.000 | 53,468,032 | 393.9 | 0.51 | 0.45 | 2018 | | 55,878,712 | 1.020 | 54,757,819 | 403.4 | 2.41 | 0.45 | 2019 | | 59,089,492 | 1.035 | 57,084,127 | 420.5 | 4.25 | 0.45 | 2020 | | 59,205,827 | 1.046 | 56,583,196 | 416.8 | -0.88 | 0.45 | 2021 | | 63,415,413 | 1.090 | 58,178,744 | 428.6 | 2.82 | 0.44 | 2022 | | 68,326,314 | 1.160 | 58,880,169 | 433.7 | 1.21 | 0.45 |
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_1200_PSN | | | | |
Tip: To augment your analysis click on the column headers in the following table to rank and/or sort the data. | | | | United States: Total Industry Earnings, 1969-2022 | | | | | | | | 1969 | | 653,665,000 | 0.189 | 3,461,658,635 | 100.0 | N | 1970 | | 693,352,000 | 0.198 | 3,507,801,275 | 101.3 | 1.33 | 1971 | | 742,094,000 | 0.206 | 3,601,523,902 | 104.0 | 2.67 | 1972 | | 819,646,000 | 0.213 | 3,846,658,532 | 111.1 | 6.81 | 1973 | | 918,964,000 | 0.225 | 4,092,469,383 | 118.2 | 6.39 | 1974 | | 993,909,000 | 0.248 | 4,008,829,105 | 115.8 | -2.04 | 1975 | | 1,059,492,000 | 0.269 | 3,944,497,394 | 113.9 | -1.60 | 1976 | | 1,173,271,000 | 0.283 | 4,141,005,188 | 119.6 | 4.98 | 1977 | | 1,303,767,000 | 0.302 | 4,320,542,816 | 124.8 | 4.34 | 1978 | | 1,476,080,000 | 0.323 | 4,573,305,242 | 132.1 | 5.85 | 1979 | | 1,648,363,000 | 0.351 | 4,690,444,754 | 135.5 | 2.56 | 1980 | | 1,784,597,000 | 0.389 | 4,584,353,165 | 132.4 | -2.26 | 1981 | | 1,961,173,000 | 0.424 | 4,623,772,250 | 133.6 | 0.86 | 1982 | | 2,053,729,000 | 0.448 | 4,587,185,902 | 132.5 | -0.79 | 1983 | | 2,188,018,000 | 0.467 | 4,687,672,466 | 135.4 | 2.19 | 1984 | | 2,432,402,000 | 0.484 | 5,021,577,654 | 145.1 | 7.12 | 1985 | | 2,615,791,000 | 0.501 | 5,218,223,348 | 150.7 | 3.92 | 1986 | | 2,786,901,000 | 0.512 | 5,441,146,840 | 157.2 | 4.27 | 1987 | | 2,996,000,000 | 0.528 | 5,674,027,499 | 163.9 | 4.28 | 1988 | | 3,259,979,000 | 0.549 | 5,941,819,010 | 171.6 | 4.72 | 1989 | | 3,467,027,000 | 0.573 | 6,054,778,994 | 174.9 | 1.90 | 1990 | | 3,679,460,000 | 0.598 | 6,155,516,520 | 177.8 | 1.66 | 1991 | | 3,789,428,000 | 0.618 | 6,134,341,309 | 177.2 | -0.34 | 1992 | | 4,059,023,000 | 0.634 | 6,400,225,481 | 184.9 | 4.33 | 1993 | | 4,237,437,000 | 0.650 | 6,519,133,846 | 188.3 | 1.86 | 1994 | | 4,456,948,000 | 0.664 | 6,716,721,924 | 194.0 | 3.03 | 1995 | | 4,674,849,000 | 0.678 | 6,899,738,761 | 199.3 | 2.72 | 1996 | | 4,956,180,000 | 0.692 | 7,161,799,344 | 206.9 | 3.80 | 1997 | | 5,288,047,000 | 0.704 | 7,510,683,597 | 217.0 | 4.87 | 1998 | | 5,707,014,000 | 0.710 | 8,041,785,619 | 232.3 | 7.07 | 1999 | | 6,098,042,000 | 0.720 | 8,469,385,147 | 244.7 | 5.32 | 2000 | | 6,598,743,000 | 0.738 | 8,938,721,519 | 258.2 | 5.54 | 2001 | | 6,865,291,000 | 0.753 | 9,117,010,172 | 263.4 | 1.99 | 2002 | | 7,001,002,000 | 0.763 | 9,176,707,606 | 265.1 | 0.65 | 2003 | | 7,243,377,000 | 0.779 | 9,299,017,896 | 268.6 | 1.33 | 2004 | | 7,674,785,000 | 0.798 | 9,614,272,113 | 277.7 | 3.39 | 2005 | | 8,039,238,000 | 0.821 | 9,788,788,097 | 282.8 | 1.82 | 2006 | | 8,519,349,000 | 0.844 | 10,089,233,775 | 291.5 | 3.07 | 2007 | | 8,866,261,000 | 0.866 | 10,237,349,175 | 295.7 | 1.47 | 2008 | | 9,014,085,000 | 0.892 | 10,108,876,304 | 292.0 | -1.25 | 2009 | | 8,688,913,000 | 0.889 | 9,771,497,172 | 282.3 | -3.34 | 2010 | | 9,023,916,000 | 0.905 | 9,969,635,637 | 288.0 | 2.03 | 2011 | | 9,444,387,000 | 0.928 | 10,176,702,513 | 294.0 | 2.08 | 2012 | | 9,854,834,000 | 0.945 | 10,424,645,101 | 301.1 | 2.44 | 2013 | | 10,180,570,000 | 0.958 | 10,629,007,841 | 307.0 | 1.96 | 2014 | | 10,613,874,000 | 0.971 | 10,928,505,678 | 315.7 | 2.82 | 2015 | | 11,039,821,000 | 0.973 | 11,346,284,134 | 327.8 | 3.82 | 2016 | | 11,311,477,000 | 0.983 | 11,508,970,941 | 332.5 | 1.43 | 2017 | | 11,848,205,000 | 1.000 | 11,848,205,000 | 342.3 | 2.95 | 2018 | | 12,438,590,000 | 1.020 | 12,189,079,542 | 352.1 | 2.88 | 2019 | | 12,989,097,000 | 1.035 | 12,548,276,062 | 362.5 | 2.95 | 2020 | | 13,158,025,000 | 1.046 | 12,575,166,053 | 363.3 | 0.21 | 2021 | | 14,278,043,000 | 1.090 | 13,099,001,844 | 378.4 | 4.17 | 2022 | | 15,207,952,000 | 1.160 | 13,105,445,395 | 378.6 | 0.05 |
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_1200_PN | | | | |
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