New Mexico Energy Production = Jobs for the Land of Enchantment

July 1, 2011

States like New Mexico, which are actively pursuing energy production and development, have lower unemployment rates, and because of that they have healthier economies.  

New Mexico currently has an unemployment rate of just 7.6%, according to a May 2011 report from the Bureau of Labor Statistics. This is nearly three percentage points below the national average, which is quickly creeping above 10%, and is already well above that in several states.

Think about it. Because New Mexico has access to its own energy supplies, it has jobs, many of which come from outside the industry, such as realtors, lawyers, banks and financial consulting companies, web site services, food service workers, medical specialty services, hospitals, newspapers, groceries, food production—the list goes on and on. 

Oil industry wages tend to be twice the national average or more. A general, entry-level ‘trades’ job averages a yearly salary of more than $80,000.

New Mexico’s local, state and national governments are also benefiting from taxes generated by companies that can create new jobs.  Because energy production equals job growth and less unemployment, Washington needs to support policies that encourage energy development for an industry that already supports 9.2 million American jobs and makes up 7.8% of our GDP. 

Further Reading:
http://api.org/aboutoilgas/upload/truth_primer4.pdf
U.S. Bureau of Labor Statistics   

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