New Mexico Q4, 2019 Employment Statistics

  • 63,919 employers, up 4.6% from 61,086
  • 844,824 employees, up 1.6% from 831,433
  • $942 average weekly wage, up 4.0% from $906
  • The average weekly wage is 20.5% below the national average
  • The cost of living is 12.5% below the national average

Employer & Employee Growth

In the last year, the number of employers in the state increased by 2,833, which is an increase of 4.6%. The number of employees in New Mexico increased by 13,391, an increase of 1.6%. During this same period, the average weekly wage increased by $36, an increase of 4.0%.

The number of private employers increased since last years' Q1. The number of private businesses increased by 2,836 or 5.0%. Growth in private businesses in New Mexico grew faster than the national average of 2.5%. The number of employees in these businesses increased since last years' Q1, increasing by 11,015 or 1.7%. The growth in employees of private businesses in New Mexico was faster than the national average of 1.2%.

The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $34 or 3.8%. Growth in average weekly wage of employees of private businesses in New Mexico grew slower than the national average of 3.8%.


Leading Sectors

Businesses by Sector

The sector with the greatest number of businesses in the state is Healthcare with 16.1% of the businesses in the state. The number of businesses in this sector increased by 8.1%. Professional services (12.0%), which increased by 6.2% and Retail trade (9.7%), which decreased by 0.5%, round out the 3 largest sectors.

Table: Sectors by Year-over-Year Qtly Business Change %
SectorChange Biz% Change
Company management5715.1%
Information10110.0%
Healthcare7758.1%
Educational services636.9%
Transport and warehousing1026.7%
Mining and oil extraction776.7%
Professional services4476.2%
Waste services1976.0%
Agriculture and forestry515.8%
Wholesale trade1545.5%
Construction2795.2%
Arts and entertainment364.6%
Real estate and rental1134.5%
Accommodation and food services1573.6%
Other services1453.5%
Manufacturing482.7%
Finance and insurance602.1%
Utilities41.5%
Retail trade-30-0.5%


Employees by Sector

The sector with the greatest number of employees in the state is Healthcare with 14.4% of the employees in the state, had an increase in employees of 1.5% in the last year. Retail trade (10.8%), decreased by 1.3% and Accommodation and food services (10.5%), increased by 0.9%, round out the top 3 sectors.

Table: Sectors by Year-over-Year Qtly Employee Change %
SectorEmployee Change% Change
Construction3,4487.2%
Arts and entertainment5906.2%
Company management3105.5%
Manufacturing1,3194.8%
Professional services2,7094.7%
Educational services3994.1%
Real estate and rental4043.9%
Transport and warehousing4442.2%
Waste services8131.8%
Wholesale trade3561.7%
Healthcare1,7391.5%
Other services2481.2%
Accommodation and food services7800.9%
Finance and insurance1570.7%
Mining and oil extraction-106-0.4%
Agriculture and forestry-71-0.6%
Retail trade-1,204-1.3%
Utilities-155-3.6%
Information-1,163-9.4%


Average Weekly Wage by Sector

The sector that pays their employees the highest is Professional services paying $1,709per week compared with the state average of $922. Weekly wages in this sector rose by $55 or 3.3%. Mining and oil extraction ($1,635), rose by $64 or 4.1% and Company management ($1,550) increased by $190 or 14.0% round out the 3 largest sectors.

Table: Sectors by Year-over-Year Weekly Wage Change %
SectorWage ChangeChange %
Company management$19014.0%
Arts and entertainment$387.9%
Manufacturing$696.5%
Construction$626.0%
Wholesale trade$534.7%
Waste services$334.5%
Accommodation and food services$154.1%
Mining and oil extraction$644.1%
Real estate and rental$333.9%
Professional services$553.3%
Other services$223.2%
Educational services$243.1%
Utilities$453.0%
Agriculture and forestry$142.1%
Information$222.1%
Transport and warehousing$212.1%
Healthcare$151.8%
Finance and insurance$231.6%
Retail trade$30.5%


Leading Industries

Businesses by Industry

Each broad sector is made up of specific industries. In New Mexico. the industry with the most businesses is Services for the elderly and disabled with 8.1% of the businesses in the state (with 5,177 employing 19,961 workers). The Services for the elderly and disabled industry had 593 more businesses, an increase of 12.9% in the last year. Restaurants and other eating places (5.2% of businesses) added 105 businesses, an increase of 3.2% and Computer systems design and related services (2.4% of businesses) added 146 businesses, an increase of 10.5% round out the 3 industries with the most businesses.

Table: Top 7 Industries by Business Change %
IndustryBusiness Chg% Change
Trusts estates and agency accounts35500.0%
Men's and boys' clothing merchant wholesalers4100.0%
Other consumer goods rental6683.5%
Support activities for printing250.0%
Pottery ceramics and plumbing fixture mfg444.4%
Junior colleges444.4%
Limousine service342.9%


Table: Top 7 Industries by Business Change #
IndustryBusiness Chg% Change
Services for the elderly and disabled59312.9%
Computer systems design and related services14610.5%
Restaurants and other eating places1053.2%
Management consulting services779.5%
Other consumer goods rental6683.5%
Temporary help services6611.1%
Support activities for mining586.6%


Employees by Industry

Restaurants and other eating places (5.2% of employees) added 105 employees, an increase of 3.2% and Computer systems design and related services (2.4% ofemployees) added 146 employees, an increase of 10.5% round out the 3 industries with the most employees.

Table: Top 7 Industries by Employee Change %
IndustryEmp Chg% Change
Industrial building construction1,310202.3%
Forging and stamping116184.6%
Animal slaughtering and processing361150.1%
Junior colleges6992.5%
Footwear merchant wholesalers878.8%
Scenic and sightseeing transportation other8577.2%
Office equipment rental and leasing3168.9%


Table: Top 7 Industries by Employee Change #
IndustryEmp Chg% Change
Research and development in the physical engineering and life sciences1,8957.8%
Industrial building construction1,310202.3%
Temporary help services93311.3%
Services for the elderly and disabled8354.4%
Semiconductor and electronic component mfg.82828.9%
Computer systems design and related services63811.5%
General medical and surgical hospitals6252.8%


Average Weekly Wage by Industry

The industry that pays their employees the most is Portfolio management, paying $13,044 compared with the state average of $922. The Portfolio management industry paid their employees $2,410 less per week, a decline of 15.6% in the last year. Investment banking and securities dealing ($4,627) and Independent artists writers and performers ($3,184) round out the top 3 industries. Employees in the Investment banking and securities dealing ($4,627 per week) were paid $809 more per week, an increase of 21.2% and Independent artists writers and performers ($3,184 per week) were paid $1,443 more per week, an increase of 82.9% round out the 3 industries that pay their employees the most.

Table: Top 7 Industries by Wage Change %
IndustryWkly Chg% Change
Independent artists writers and performers$1,44382.9%
Scenic and sightseeing transportation other$1,09580.1%
Other building exterior contractors$64277.9%
Geophysical surveying and mapping services$52772.5%
Agents and managers for public figures$50861.3%
Trusts estates and agency accounts$46852.6%
Financial transaction processing and clearing$57044.7%


Table: Top 7 Industries by Wage Change $
IndustryWkly Chg% Change
Independent artists writers and performers$1,44382.9%
Scenic and sightseeing transportation other$1,09580.1%
Investment banking and securities dealing$80921.2%
Other building exterior contractors$64277.9%
Photographic equip. merchant wholesalers$57340.1%
Financial transaction processing and clearing$57044.7%
Geophysical surveying and mapping services$52772.5%


Company Size

New Mexico Businesses by Size

The solopreneur company, has the most businesses in New Mexico by far. 62.2% of all businesses in the state have fewer than 5 employees. The 55,035 small businesses in the state represent 96.1% of all private businesses. The national average is 91.2%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) New Mexico added 1,966 businesses in the last year, an increase of 3.6% as compared to the national average of 3.0%.

Small businesses are defined as companies with fewer than 50 employees. These small businesses added 1,927 businesses in the last year, which is an increase of 3.6% as compared to the national average of 3.1%.

Mid-sized businesses are defined as companies with between 50 and 499 employees. These mid-sized businesses added 39 businesses in the last year, which is an increase of 1.8% as compared to the national average of 1.3%.

Large businesses are defined as companies with more than 500 employees. These large businesses added 0 businesses in the last year, which is an increase of 0.0% as compared to the national average of 2.1%.



New Mexico Employees by Business Size

New Mexico added 30,845 employees in the last year, an increase of 5.0% as compared to the national average of 5.2%. Small businesses are defined as companies with fewer than 50 employees. These small businesses added 5,963 businesses in the last year, which is an increase of 12.2% as compared to the national average of 4.2%.

Mid-sized businesses are defined as companies with between 50 and 499 employees. Mid-sized businesses added 20,750 employees in the last year, which is an increase of 9.2% as compared to the national average of 4.7%.

Large businesses are defined as companies with more than 500 employees. Large businesses added 4,132 employees in the last year, which is an increase of 6.2% as compared to the national average of 9.2%.

New Mexico Avg Weekly Wages by Business Size

New Mexico workers in every size business are paid less than the national average. The smallest companies in New Mexico (those with fewer than 5 employees) pay workers 18.9% less than the national average ($845 per week as compared to the national average of $1,005 per week). The largest companies in New Mexico (those with more than 1,000 employees) pay 11.5% workers below the national average ($1,715 per week as compared to the national average of $1,913 per week).

Average weekly wages in small businesses added $79 per week in the last year, which is an increase of 2.7% as compared to the national average of 3.1%. Employees of mid-sized businesses added $72 in wages per week in the last year, which is an increase of 2.8% as compared to the national average of 1.3%.

Employees of large businesses added $167 of weekly wages in the last year, which is an increase of 6.7% as compared to the national average of 2.1%.

Top Industries for Business and Employment

The table below illustrates the largest industries in the state, by number of businesses:

Table: Top 10 Industries by # of Businesses
Industry# Businesses% Change
Services for the elderly and disabled5,17712.9%
Restaurants and other eating places3,3443.2%
Computer systems design and related services1,53510.5%
Offices of lawyers1,1841.2%
Residential building construction1,1374.1%
Offices of physicians1,056-0.7%
Support activities for mining9426.6%
Accounting and bookkeeping services9255.6%
Management consulting services8869.5%
Insurance agencies and brokerages8352.0%


The table below illustrates the largest industries in the state, by number of employees:

Table: Top 10 Industries by # of Employees
Industry# Employees% Change
Restaurants and other eating places68,5480.6%
Research and development in the physical engineering and life sciences26,2587.8%
General medical and surgical hospitals23,0972.8%
Services for the elderly and disabled19,9614.4%
Support activities for mining17,117-2.6%
General merchandise stores including warehouse clubs and supercenters16,8061.5%
Home health care services14,0252.5%
Hotels and motels except casino hotels13,9770.9%
Supermarkets and other grocery stores13,415-0.3%
Offices of physicians12,106-2.3%


The table below illustrates the largest industries in the state, by highest wages:

Table: Top 10 Industries by Weekly Wage
IndustryWkly Wages% Change
Portfolio management$13,044-15.6%
Investment banking and securities dealing$4,62721.2%
Independent artists writers and performers$3,18482.9%
Other publishers$2,837-25.6%
Petroleum refineries$2,6055.0%
Computer and peripheral equipment mfg.$2,5375.8%
Scenic and sightseeing transportation other$2,46280.1%
Securities brokerage$2,456-0.8%
Pipeline transportation of natural gas$2,4109.0%
Software publishers$2,3291.9%




Data Sources




About the Writer

This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.