Albuquerque, NM - Corporate profits get a bigger share of the economic pie in New Mexico than in most other states, leaving less "pie" to go around -- in this case, in the form of wages. That's according to a new report released today by Gerry Bradley, research director for New Mexico Voices for Children.
"If a big share of the state's gross product is going to profits, it means that the bargaining power to keep that in wages and salaries in New Mexico just isn't there."
In New Mexico, 50 percent of the gross domestic product (GDP) goes to compensate employees. The national average is 57 percent. Bradley believes New Mexicans should make it a goal for the new year to work toward public policies that "share the wealth."
"There should be a resolution to tell the Legislature that we need a more equitable tax policy, and that we need increases in some of the programs that benefit working New Mexicans, like Medicaid."
The study also notes New Mexico's prevalence of low-paying jobs, a high unemployment rate among adults without high school diplomas, and a lack of job opportunities, particularly in rural parts of the state.
