News
New Mexico had highest unemployment rate of any state in January
March 24, 2022
“New Mexico tends to have a somewhat higher unemployment rate in general in the U.S., at least in recent history…the labor market is different than a lot of other places in the country,” said Michael O’Donnell, the acting director of the University of New Mexico’s Bureau of Economic Research.
Employment Ebb
March 23, 2022
The pandemic hit Santa Fe particularly hard in terms of job losses because its economy is reliant on customer service industries, says Michael O’Donnell, acting director of the University of New Mexico’s Bureau of Business and Economic Research. That’s made staffing up difficult.
The core debate: A multi-billion-dollar project to make plutonium cores at LANL
March 23, 2022
The money at stake is staggering: at least $9 billion for a decade of work at the two sites (LANL and South Carolina site), according to the most recent federal cost estimate. In a poor state like New Mexico, it’s not easy to turn down that kind of money. The national labs are the state’s number-one draw for federal funding, according to Michael O’Donnell, acting director of the Bureau of Business and Economic Research (BBER) at the University of New Mexico. This means keeping the labs happy is a top priority for lawmakers.
Why have gas prices risen so quickly?
March 17, 2022
Michael O'Donnell, UNM Bureau of Business and Economic Research Acting Director said there are several factors at play, including geopolitical uncertainty, and “It could be hoarding behavior by consumers and by businesses and by countries or just in general, the concern that in the future there's going to be less oil.”
Albuquerque’s food truck scene is on a roll
March 5, 2022
BBER Report Finds NM EMNRD’s Oil Conservation Division Has Potential To Add Millions To NM
February 2, 2022
A preliminary analysis from The University of New Mexico’s Bureau of Business and Economic Research (UNM BBER) has found that the New Mexico Energy, Minerals & Natural Resources Department’s Oil Conservation Division (EMNRD OCD) could produce millions of dollars for the state through direct economic impacts and gross receipts taxes (GRT) with additional funding and more full-time staff.
Senator Jeff Steinborn, Co-Sponsors Introduce Bill to Address Abandoned Uranium Mines
February 1, 2022
Many in N.M. land on their feet after quitting jobs
January 17, 2022
The road to recovery: New Mexico's economic rebound remains on the horizon according to FOR-UNM
January 13, 2022
Fast food shifts: Here to stay?
January 10, 2022
Most of the changes facing fast food and casual restaurants are the result of a shifting labor force that has allowed some workers to have the upper hand, according to Michael “Mo” O’Donnell, acting director of University of New Mexico’s Bureau of Business and Economic Research.
Santa Feans grapple with cost of living that continues to outpace minimum wages
October 13, 2021
Jobless Rates From 15 U.S. Cities Show Racial Gap is Widening
September 22, 2021
Phoenix’s and San Antonio’s broad recoveries have been helped by recent population growth and improved economic diversity. It’s a different story in Albuquerque according to BBER acting director Michael O’Donnell.
NM unemployment drops, but still higher than nation
September 18, 2021
Michael O’Donnell, acting director of the University of New Mexico’s Bureau of Business and Economic Research, said single-month unemployment numbers, which are based on a survey of households, can be unreliable and prone to revision. However, O’Donnell added that the overall trend is encouraging for New Mexico after several months of limited movement.
New Mexico's rural-urban divide grows
August 26, 2021
“It might be because there are relatively better opportunities elsewhere, as you can imagine; maybe more opportunities in some of the bigger cities in the state or potentially out of state,” Michael O'Donnell, acting director at the University of New Mexico's Bureau of Business and Economic Research, told The Center Square. “We’ve seen population losses to places like Texas and Arizona.”
UNM's O'Donnell: Outdoor recreation alone probably won't be enough to save many rural places
August 23, 2021
“The thing that you want if you are pursuing that strategy is other economic infrastructure there as well,” BBER acting director Michael O'Donnell said. “So you want things like hotels and restaurants; you want things like places people can buy stuff and stimulate the local economy. To the extent that some places already have that infrastructure in place they’ll be better positioned to capitalize.”
New Mexico Economic Update with Michael O'Donnell
August 6, 2021
PDF Version [699.6 K]
Hot housing market edges out would-be buyers, tightens rentals
June 28, 2021
A new labor dynamic
May 31, 2021
University of New Mexico economist Michael “Mo” O’Donnell said that nationally there is a shortage of skilled and unskilled labor in the construction industry and the coronavirus has only exacerbated these concerns even as hiring levels start to return to pre-pandemic levels.
NM unemployment rate third highest in US
May 24, 2021
University of New Mexico researchers tell the Albuquerque Journal New Mexico typically recovers more slowly from economic downswings: “It’s not uncommon, at least in recent history, for this state to have a relatively high unemployment rate,” Michael O’Donnell, acting director of UNM’s Bureau of Business and Economic Research, said.
NM ties for third-highest unemployment rate in nation
May 22, 2021
“It’s not uncommon, at least in recent history, for this state to have a relatively high unemployment rate,” said Michael O’Donnell, acting director of UNM’s Bureau of Business and Economic Research.
