Albuquerque's Metro Economy Hits $59.38 Billion in 2023

Albuquerque's metropolitan GDP reached $59.38 billion in 2023, accompanied by a per capita income of $61,857. These totals establish the scale of economic activity captured in official records for the area.

Employment Totals and Share of State Jobs

The Albuquerque metropolitan area held 427,800 nonfarm payroll jobs as of December 2024. That figure represented nearly 48 percent of all such jobs across New Mexico and reflected a 1.7 percent increase from the prior year. Education and health services added 2,400 positions during the period, the largest gain among tracked sectors.

Unemployment Rate Movement

The local unemployment rate stood at 4.0 percent in the fourth quarter of 2024. This marked an increase from 3.6 percent recorded one year earlier. The data come from quarterly labor market releases that track changes in the civilian labor force.

Five-Year Growth Indicators

Albuquerque placed ninth nationally in overall economic growth rankings. Business applications rose 148 percent over five years, while wages increased 30 percent between 2019 and 2023. These measures appear in federal housing and market reports that compile application and earnings data.

Indigenous Resident and Wage Figures

The metro area counted approximately 82,700 Indigenous residents, equal to 9 percent of the population. This share ranked fourth highest among U.S. metropolitan areas. Median hourly wages for Indigenous workers measured $15.09, listed among the lowest nationally in the same datasets.

These statistics supply a baseline for tracking payroll, income and labor-force participation in coming quarters. Residents can review updates through the cited public dashboards and quarterly releases to follow further shifts in the listed indicators.