News

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.

How New Mexico’s economy can bounce back after pandemic
May 21, 2021
BBER Director Michael "Mo" O'Donnell reminds us that the state has always been slow to recover from economic lows but believes our state is headed in the right direction.

New Mexico's work search requirement reinstated for those receiving unemployment benefits
May 11, 2021
“I think bringing back the search requirement will probably help at least somewhat to bring that rate down,” said O’Donnell. "The question is are those people going to go back to work or are they going to drop out of the labor force."

New Mexico reinstates work search requirement for recipients of unemployment benefits
May 10, 2021
Michael O'Donnell, acting director of the Bureau of Business and Economic Research at the University of New Mexico, said forecasts for New Mexico estimate employment levels could approach pre-pandemic figures sometime in 2023 or 2024.

Many people choosing to stay on unemployment rather than work, business owners and analysts say
May 6, 2021
Director Mo O’Donnell says, compared to other states, we’re more reliant on the leisure and hospitality industry, which is obviously one of the areas the pandemic hit the hardest.

Is an extra $300 a week enough to keep workers out of the workforce? A UNM researcher says it's
May 6, 2021
Data show unemployment benefits generally totaled 128% of a worker's pre-pandemic wage, according to a BBER analysis. That's because — essentially — the bulk of the pandemic layoffs and job losses during the pandemic affected those working lower-paying jobs, the analysis said.

Worker shortage causes problems for New Mexico businesses
May 5, 2021
The University of New Mexico Bureau of Business and Economic Research team (UNM BBER) says the state is lagging behind the recovery process of most of the rest of the country, and a full recovery may not arrive until late 2023.

Pandemic changed the ‘calculus’ for state’s workers
May 3, 2021
“If you’re a worker and you don’t know for sure that you’re going to be able to work next week, or your hours might get cut because the demand for whatever is being sold at your establishment is relatively low, then you have to put that uncertainty in your calculation,” he said.

How New Mexico’s unemployment crisis fares in the U.S.
April 30, 2021
“People have gotten used to doing things in a new way,” BBER director Mo O’Donnell explained. “There’s no guarantee that people are going to go back to the way that things were exactly, and there’s no timetable for how long that recovery is going to take.”

University of New Mexico director: State's economy needs a boost
March 9, 2021

US Census Webinar for New Mexico on March 9th
February 12, 2021
Communities have been hard hit with the COVID-19 pandemic. The U.S. Census Bureau's COVID-19 Hub contains demographic and economic data designed to help guide decision-making related to the COVID-19 pandemic.