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ABQ economy 90th worst out of top 100 metro areas

The bad news keeps rolling in for the Albuquerque metro area's economy.

Between 2015 and 2016, the area had the 90th worst economy of the nation's 100 largest metro areas, according to the Brookings Institute's latest Metro Monitor report.

In that year, the area's gross metro product grew by a measly 0.3 percent, and hiring by companies less than five years old decreased by 2.5 percent. Overall, the number of jobs grew by 1.8 percent, but wages decreased by 0.3 percent.

The area had negative growth rates in three areas that are linked to overall prosperity: productivity, -1.5 percent; average wage, -0.3 percent; and standard of living, -0.2 percent.

If there was any good news in the Brookings report it was that Albuquerque didn't have the worst economy in the area. Tucson had the 93rd worst economy, and Oklahoma City placed 98th.

Albuquerque has yet to regain all the jobs it lost during the recession. It means that there were more jobs here 10 years ago than there are now.

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