Economic inflection point seen

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By Harold Morgan

The New Mexico economy is “at an unusual inflection point,” Barbara Brazil, deputy Economic Development Department secretary told the recent New Mexico Tax Research Institute Tax Policy Conference. We need to start thinking differently about the economy, she said.
Our economic conversation is more than Brazil’s job. She has been in the chat for a long time. She is thoughtful and wise.
An inflection point, for those of us for who eighth grade geometry has disappeared, is where a curve changes direction, as from heading down to up.
Given our addition of a few new jobs the past couple of months — 7,900 from April 2012 to April 2013 — the economy may be at an inflection point. However, it is the thinking that I hope is changing direction. At minimum, we’ll see more public conversation about the economy and/or economic development (they are different).
A new interim committee of the Legislature is called “Job Growth.” Leadership and members are yet to be named. The big daddy of interim committees, the Legislative Finance Committee, plans an economy session at every meeting. On June 13, in Silver City, the LFC will consider “Labor Force Dynamics and Unemployment.”

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