New Mexico R.I.P (Ripple In Peace)

Today, news came out that New Mexico, our home state, has the highest unemployment record in the country. With a rate of 4.7% nationally, NM’s rate stands at 6.7% up from 6.5% a year ago.

Here are the top 3 reasons why:

Volatility in the oil and gas sector, which has led to layoffs

Declines in health care and hospitality jobs due to uncertainty of the future of the Affordable Health Care Act

NM Governor, Susana Martinez, vetoes agricultural bills related to hemp production

Reason number one impacts more than New Mexico.

Alabama, Alaska, Arizona, Arkansas, Colorado, Montana, North Dakota, Texas and Wyoming are just a few of the states that rely on natural resources for tax and revenue.

Reason Number 2:

According to statisticians, the Republicans’ repeal and replace plan would cost NM up to 19,000 jobs and $2.2 billion in funding, a hit that could throw the state back into recession.

Reports show that a huge state like California could lose 209,000 jobs and cost the state economy $20.5 billion. Plus, many other industries would also be adversely affected by an ACA repeal, including healthcare suppliers and local businesses.

Restaurants and retail outlets where healthcare workers spend their income would suffer. As if Granny Retail XRT can handle any more suffering, poor woman!

If by now, you are thinking that recession can indeed hit these states for reason number one and two are you just a little bit concerned now about adding reason number 3?

Furthermore, are you thinking domino effect?

Reason Number 3:

Some estimate that the global market for hemp consists of more than 25,000 products such as Textiles and fabrics, yarns, paper, carpeting, home furnishings, construction and insulation materials, auto parts, food and body-care products.

Yet, there is no large-scale commercial production in the U.S. The U.S. currently depends on imports.

Oh-Can you guess which country is the largest hemp producer? China!