- August 31, 2018
- New Mexico Voices for Children
- Sarah Hyde
While a handful of New Mexico municipalities – including the cities of Albuquerque, Las Cruces, and Santa Fe, and Bernalillo and Santa Fe counties – have raised their minimum wages in recent years, the state-wide minimum wage has not been raised since 2009. Still at $7.50 an hour, its purchasing power has eroded considerably over that timeframe. In fact, when you factor in inflation, that $7.50 buys only $6.30 worth of goods today. If the wage had been adjusted for inflation, it would now be $8.95 an hour. While New Mexico’s minimum wage has remained stagnant and lost purchasing power, 28 states, including Colorado and Arizona, have increased their state minimum wages. As these states have found, raising the minimum wage benefits thousands of working families and local economies.