A recent report by Wallethub has identified New Mexico as the second poorest state in the United States. The findings highlight the state's high poverty levels and significant reliance on government support, with limited private industry presence.
The report provides a detailed analysis of income distribution within the state, revealing that both the highest and lowest earners in New Mexico have relatively low incomes. Specifically, New Mexico ranks 46th for the average annual income of the top 5%, adjusted for cost of living index (COLI), at $371,006. Meanwhile, it ranks 49th for the average annual income of the bottom 20%, adjusted for COLI, at $12,351.
Despite these figures, New Mexico holds $61 billion that policymakers have not redistributed to its residents. The report also notes claims by MLG regarding significant improvements in child poverty; however, these claims are questioned within the context of the report's findings.
Paul J. Gessing President
| Rio Grande Foundation
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