2011 – 2015 new mexico consolidated plan for housing and ...

III. Demographic and Economic Profile
Table III.11
Population and Household Projections
State of New Mexico
Census and BBER Forecast 3
Projections 2000 2005 2010 2015 2020 2025 2030
Households
Owner 474,435 504,354 558,851 608,966 656,497 699,816 740,403
Renter 203,536 223,466 249,043 271,376 292,557 311,862 329,948
Total 677,971 727,820 807,894 880,342 949,054 1,011,678 1,070,351
Population 1,819,046 1,912,884 2,162,331 2,356,236 2,540,145 2,707,757 2,864,796
C. ECONOMIC CONDITIONS
LABOR FORCE AND EMPLOYMENT
Over the last twenty years, from 1990 through 2009, the labor force in New Mexico,
defined as people either working or looking for work, rose from about 700,000 persons to
about 956,000 persons. This represented a growth of about 0.36 percent. However, from
2008 to 2009, this figure dipped slightly due to the national and global recession. But this
dip was not as significant as the drop in employment levels, as shown in Diagram III.3.
1,000,000
950,000
900,000
850,000
800,000
750,000
700,000
650,000
600,000
Diagram III.3
Labor Force and Total Employment
State of New Mexico vs. U.S.
BLS Annual Data 2007 - 2009
955,904
887,358
1990 1992 1994 1996 1998 2000 2002 2004 2006 2008
Labor Force
Employment
Over this same time period, the unemployment rate fluctuated from a high of 7.5 percent
in 1992 and 1996 to a low of 3.5 in 2007. However, since 2007 the unemployment rate
more than doubled to 7.2 percent in 2009. These data are presented in Table III.12, on the
following page.
3
New Mexico County Population Projections, Bureau of Business and Economic Research, University of Mexico, released August 2008.
New Mexico
Draft Report for Public Review
Five-Year Consolidated Plan 34 September 1, 2010