Eight of the largest foundations in New Mexico have come together to create a Common Grant Application process. These foundations are Albuquerque Community Foundation, Intel, McCune Charitable Foundation, Nusenda Foundation, PNM, PNM Resources Foundation, Sandia Foundation, and United Way of Central New Mexico. Other funders are welcome to participate as well. The application process is hosted by SHARE New Mexico, an online portal for grant-makers, social service providers, researchers, and communities across New Mexico. The creation of the common grant process was reported by the Santa Fe New Mexican. Share New Mexico and the common application process were established in part as the result of a study conducted in 2011 by BBER and funded by the United Way of Central New Mexico and the PNM Foundation. Mission: Graduate, a cradle-to-career education partnership, also attributes its founding to the BBER study.
A data series that economists follow closely is the labor force participation rate. The labor force participation rate, which is estimated by the Bureau of Labor Statistics (BLS), is the labor force aged at least 16 years (or all appropriately aged individuals classified as employed or unemployed) as a percent of the civilian noninstitutional population aged 16 or more. Prior to the Great Recession, the US participation rate peaked at 66.4%. In other words, 66.4% of all noninstitutionalized individuals were either employed or looking for work. However, post-recession, the rate has been on a downward trajectory and has now registers 62.7%. Analysts often argue that the declining participation rate is worrisome because it may signify weakness in the economy, and specifically in the job market. The argument goes: if the economy was in a better position, an increasing proportion of the population would be either working or looking for work…. View Full Post
Oil and natural gas production is subject to royalties and taxes. The State of New Mexico Oil and Natural Gas Administration and Revenue Database (ONGARD) service center collects royalty and tax fillings for the State Land Office and the Taxation and Revenue Department. However, there is at least a three month lag from when the sale occurred, to when it was reported for tax purposes, to when it will be reported in the ONGARD database. So, if there is a need for the current price of New Mexico oil, then the previous method to calculate it will not suffice. However, since the price of West Texas Intermediate (WTI) oil and the price of New Mexico oil move in tandem and the price of WTI is published daily, then through regression, we can estimate the current price of New Mexico oil. The results from regressing the price of New Mexico oil… View Full Post
Right now the Census Bureau is making important decisions about the next decennial census. It might seem like April 1, 2020 is a long way away from now, but the Bureau published its operational plan back in October last year. The director John Thompson noted in his blog on February, 5, 2016 that this year there will be 62 key decisions made that will effect how the 2020 Census will be carried out. There are also two census advisory committees which have been active in providing recommendations for improvements. While the operational plan outlines in extensive detail lots of activities, there are a few key items that New Mexicans should be aware of. These are programs, which will be requesting information from the states that leading up to the decennial census, will affect how well the data are collected at that time. Boundary and Annexation Survey (BAS) This program is… View Full Post
New Mexico oil and gas production reached an all-time high last year, more than doubling from approximately 5 million barrels per month in 2009 to over 13 million barrels per month by the middle of 2015. Record high production has contributed to healthy tax revenue collections in recent years and has been a boon for economic activity in New Mexico’s oil producing regions, while also making an important contribution to statewide growth. Last month the global oil over-supply condition and growth concerns in China and other important economies pushed prices to the lowest level seen in twelve years. The decline was so steep, oil fell more than $75 in an eighteen month period. Since global demand growth is not sufficient to work off excess supply, the World’s oil producing nations have sought to cooperate on easing the oil glut in order to stabilize prices; negotiations have helped to somewhat counter… View Full Post
The City of Albuquerque and Bernalillo County are updating the comprehensive plan through a process that has been called ABC-Z. The update is designed to be implemented through a new set of integrated zoning and subdivision regulations. Key goals of the project are to improve opportunities for economic development, provide protection for the city’s established neighborhoods, to streamline the city’s development review and approval procedures, and to respond to water and traffic issues. The City of Albuquerque has set up an informational website with all of the details of the project which can be found online at abc-zone.com The City of Albuquerque is making efforts to get the community involved in the planning process by hosting community meetings and working with a consultant on the plan. The city will also gain a better understanding of the effects of the existing regulations on development in Albuquerque by commissioning a study done… View Full Post
According to the Henry J. Kaiser Family Foundation (http://kff.org/health-reform/state-indicator/total-monthly-medicaid-and-chip-enrollment/#) Medicaid/CHIP enrollment in New Mexico increased by 274,518 persons (60%) between January 1, 2014 and November 2015. Only four states have seen larger increases by percentage (Kentucky, Nevada, Colorado and Oregon). Note that not all of the increase in enrollment are individuals enrolled in Centennial Care; many have enrolled in programs previously available to New Mexicans (e.g. CHIP). In addition to providing health insurance to more than a quarter million New Mexicans, expanded enrollment in Medicaid has had a substantial employment impact in the state. The following is an analysis of the growth of employment in the health care and social assistance sector (NAICS 61) since January 1, 2014. The source of this data is the BLS Quarterly Census of Employment and Wages. Employment Growth in Health Care & Social Assistance, by Owner and Subsector, 2013Q-2015Q2 Since the beginning of… View Full Post
The prices of Brent and West Texas Intermediate (WTI) oil are widely published, but the price of New Mexico oil is not. However, the data necessary to calculate it are available as is demonstrated in this blog. The State of New Mexico tracks oil and gas production, royalties, and taxes and publishes the data on the internet in the Oil and Natural Gas Administration and Revenue (ONGARD) Database. To access the data, you can first navigate to the website http://web.ongard.state.nm.us. Once on the site, navigate through the following steps: Tax and Revenue Department: TRD Reports TAX RESEARCH COUNTY VOL/VAL REPORT BY SALE PERIOD (PCVV) At this point, you will reach the query page. In the PRODUCT CODE options, select 01-Oil (BBLS), 02-Condensate (BBLS), 05-Other Liquid Hydrocarbons (BBLS), and 14-Oil Lost. Select “Output Results in Excel” to download the query into an Excel spreadsheet. Once the data is in Excel, select the… View Full Post
Although the US economy ended 2015 on somewhat shaky footing, several measures of the labor force are still improving. In particular, the data show that while there has been no upward movement in employer layoffs for several years, voluntary quits have been increasing since 2009. In fact, in December 2015, voluntary quits totaled nearly 3.1 million, which just about equals levels prior to the Great Recession. Voluntary quits are seen as a measure of labor market optimism (as labor market opportunities increase, voluntary quits increase) and an increase in the series is encouraging. Layoff and quit data are produced by the Bureau of Labor Statistics’ Job Openings and Labor Turnover Summary (JOLTS) program; the most recent data can be found here.
Researchers at UNM’s Bureau of Business and Economic Research are part of the New Mexico Universities Working Group on Water Supply Vulnerabilities that was funded by the State Legislature in 2014. The working group was tasked with assessing the current status of New Mexico’s water supply and demand; evaluating the long-term impacts of the current drought on surface water, groundwater, and economic activity; and determining key vulnerabilities and potential policy strategies for mitigating these vulnerabilities. As a first step the Working Group focused on the Lower Rio Grande, and in 2015 provided their final report to the Interim Committee on Water and Natural Resources. Some of the key vulnerabilities identified in the report include: The Santa Teresa, NM area is likely to experience more business and population growth. Yet the current water supply is expected to meet the area’s needs for the next decade only. Continuing drought will create increasingly… View Full Post