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Average Wage and Per Capita Income Summary, In Constant Dollars*
New Mexico
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% Change**
Current Previous % Change** Data Ten Yrs.
Current Year's Year's Previous to Ten Yrs. Ago to
Year Data Data Current Yr. Ago Current Yr.
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Selected per capita incomes in 2002 dollars: 1/
Per capita personal income 2/ 2003 $25,066 $24,823 1.0 $19,999 25.3
Rank among the states 3/ 2003 46 46 - 46 -
NM per capita income as a %
of U.S. per capita income 2003 80.7 80.3 - 79.4 -
Per capita disposable personal income 4/ 2003 22,867 22,443 1.9 17,989 27.1
Per capita net earnings 5/ 2003 $16,355 $16,169 1.2 $13,462 21.5
Per capita personal current transfer receipts 6/ 2003 4,499 4,284 5.0 2,952 52.4
Per capita dividends, interest, and rent 2003 4,212 4,371 -3.6 3,586 17.5
Average annual wage per job by
industry in 2002 dollars: 7/, 8/
All Sectors 2002 $29,597 $29,166 1.5 $25,298 17.0
Farm 2002 29,257 27,825 5.1 14,197 106.1
Nonfarm 2002 29,600 29,177 1.5 25,427 16.4
Private 2002 28,179 28,036 0.5 na -
Forestry, fishing, related
activities, and other 2002 14,563 13,781 5.7 na -
Mining 2002 47,555 47,311 0.5 na -
Utilities 2002 53,575 55,046 -2.7 na -
Construction 2002 30,010 30,559 -1.8 na -
Manufacturing 2002 37,694 38,640 -2.4 na -
Wholesale trade 2002 37,439 36,819 1.7 na -
Retail trade 2002 21,168 21,037 0.6 na -
Transportation and warehousing 2002 34,597 34,356 0.7 na -
Information 2002 31,850 33,290 -4.3 na -
Finance and insurance 2002 37,542 36,208 3.7 na -
Real estate and rental and leasing 2002 29,994 24,637 21.7 na -
Professional and technical services 2002 50,764 49,673 2.2 na -
Management of companies and enterprises 2002 43,100 41,857 3.0 na -
Administrative and waste services 2002 23,117 22,809 1.4 na -
Educational services 2002 22,732 21,981 3.4 na -
Health care and social assistance 2002 28,956 28,403 1.9 na -
Arts, entertainment and recreation 2002 17,090 17,166 -0.4 na -
Accommodation and food services 2002 12,249 12,044 1.7 na -
Other services, except public admin. 2002 19,448 18,723 3.9 na -
Government and government enterprises 2002 33,622 32,458 3.6 na -
Federal, Civilian 2002 49,130 48,205 1.9 na -
Military 2002 33,398 30,055 11.1 na -
State and Local 2002 30,900 29,872 3.4 na -
State 2002 35,571 34,114 4.3 na -
Local 2002 27,666 26,914 2.8 na -
* Dollar amounts have been adjusted for inflation using the implicit price deflator for personal consumption
expenditures from the U.S. Bureau of Economic Analysis.
** Percent changes are based on unrounded numbers.
na Not available.
1/ Per capita figures are the annual dollar amounts of New Mexico personal income, or specific components of
income, divided by the State's total population. The population figures that are used in the calculations
are estimates of the total resident population as of July 1 of each year.
2/ Personal income is the income received by all persons from participation in production, from government
and business transfer payments, and from government interest. Personal income is the sum of net earnings
by place of residence, rental income of persons, personal dividend income, personal interest income, and
personal current transfer receipts. Personal income is measured before the deduction of personal income
taxes and other personal taxes, and it is on a place-of-residence basis.
3/ Rankings are among the 50 states and do not include the District of Columbia.
4/ Disposable personal income is personal income less personal taxes. It is personal income that is available
for spending and saving.
5/ Earnings consist of wage and salary disbursements, proprietors' income, and supplements to wages and salaries
(primarily employer contributions for health and pension plans). The sources for these data are on a place-of-
work basis. Net earnings are earnings by place of work, less contributions for government social insurance,
plus a residence adjustment. The residence adjustment is made to convert the estimates based on the place-of-work
source data to a place-of-residence basis. The residence adjustment is the net inflow of the net labor earnings
of interstate commuters.
6/ Transfer receipts consist of payments to persons for which no current services are performed. It consists of
payments to individuals and to nonprofit institutions by federal, state, and local governments and by businesses.
Government transfer payments to individuals include old age and disability insurance benefits, medical payments
(mainly Medicare and Medicaid), income maintenance benefits, unemployment insurance benefits, veterans benefits,
and federal grants and loans to students. Government transfer payments to nonprofit institutions include state
government payments to institutions that administer foster care programs; it excludes payments by the federal
government for work under research and development contracts. Business transfer payments to persons consist
primarily of liability payments for personal injury and of corporate gifts to nonprofit institutions.
7/ Average wages are the annual wage and salary disbursements for each sector divided by the number of full- and
part-time wage and salary employees in that sector.
8/ Industry classifications are based on the North American Industry Classification System (NAICS). Wage data
prior to 2001 were based on the Standard Industrial Classification (SIC) system and are not completely comparable
with NAICS-based data. Thus, wages by industry are only shown for 2001 forward.
Note: Data for 2003 are preliminary.
Source: U.S. Dept. of Commerce, Bureau of Economic Analysis, April 2004.
Table prepared by: Bureau of Business and Economic Research, University of New Mexico.