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Few New Mexicans think the state economy is good or excellent, according to results from the Journal Poll released this week.

A plurality of New Mexicans rated economic conditions as 鈥渇air鈥� at 43%, while 38% of those polled said the economy was 鈥減oor.鈥� Overall, 16% ranked the economy as 鈥済ood,鈥� while a meager 1% of voters said the economy was 鈥渆xcellent.鈥� These opinions transcended demographics, with New Mexicans voicing similar opinions regardless of race, sex and region.

But dissatisfaction with the economy is nothing new; in fact, opinions had barely budged since the Journal last asked the question in 2024.

鈥淚t鈥檚 interesting that in the last two years we鈥檝e had dramatic, significant changes, but despite that, the results haven鈥檛 changed,鈥� said Brian Sanderoff, president of Albuquerque-based Research & Polling Inc., which conducted the poll.

This year the economy is top of mind for many Americans with the war in Iran, tariffs and inflation in national headlines, Sanderoff said.

And some New Mexicans are more concerned than others. Those without a college degree were more likely to rate the economy as poor at 46%, with those numbers dropping off the more education the voter attained.

For example, 27% of those polled with graduate degrees said the economy was poor, nearly half said the economy was fair and 24% ranked the economy as good.

鈥淓ducation often correlates with income,鈥� Sanderoff said.

College-educated New Mexicans are likely higher paid and better insulated from economic conditions, Sanderoff reasoned, as opposed to residents who are less educated and more likely to work low-income jobs. Under financial stress, it鈥檚 natural for people to have negative views of the overall economy, he said.

Views on the economy also diverge among party lines. Republicans were more critical of the economy than Democrats, with 44% and 32%, respectively, ranking the economy as poor. Sanderoff called this the 鈥減artisan lens.鈥�

鈥淲hen the Democrats are in office, Republicans are sometimes more critical,鈥� Sanderoff said. 鈥淲hen a Republican is in office as governor, Democrats might be more critical.鈥�

Similarly, support for Gov. Michelle Lujan Grisham influenced voters鈥� economic views. Approximately 20% of voters who support the governor ranked the economy as good, 45% as fair and 32% as poor. Meanwhile, nearly half of residents who don鈥檛 approve of the governor said the economy was poor at 45%, with just 13% classifying it as good.

Despite differences across education and party, the biggest takeaway Sanderoff said is that the statistics are stagnant.

鈥淩egardless of any efforts that are going on right now in the state government, the voters have not seen the change in the last two years,鈥� Sanderoff said.

Methodology

The Journal Poll was conducted from Aug. 21 through Aug. 28. It is based on a statewide random sample of 516 voters who cast ballots in the 2022 and/or 2024 general elections, and a sample of adults who registered to vote since January 2025 and who said they are likely to vote in the upcoming election.

The total sample of 516 voters has a margin of error of plus or minus 4.3 percentage points. The margin of error grows for subsamples.

The sample was stratified by race/ethnicity and county and weighted by party affiliation, gender and education level based on traditional voting patterns in New Mexico general elections, to ensure a more representative sample.

All interviews were conducted by live, professional interviewers based in Albuquerque, with multiple callbacks to households that did not initially answer the phone.

Both cellphone numbers (96%) and landlines (4%) of likely general election voters were used.

Gillian Barkhurst is a general assignment reporter for the Journal. She can be reached at gbarkhurst@abqjournal.com.