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New Mexico Ranks High In Financial Dependence

New Mexico Ranks High In Financial Dependence

State Receives Worst Score In Financial And Government Dependency

In a study of 2017’s Most Independent States, New Mexico scored 42 out of 50, with number one being the most independent. In order to determine the most independent states, the personal-finance website WalletHub compared the 50 states across five key dimensions: Financial Dependency, Government Dependency, Job-Market Dependency, International-Trade Dependency and Vice Dependency.

New Mexico received the worst score in Financial Dependency and Government Dependency and a 47 out of 50 in Job Market Dependency. The state had the 48th lowest percentage of households with rainy day and emergency funds, and the 48th lowest employer-based retirement access and participation. Only Nevada and Florida were worse off.

New Mexico is also the 48th most federally dependent state, with Mississippi and Kentucky taking the 49th and 50th place, respectively. And of course, New Mexico has the highest unemployment rate.

The state also earned a four in International-Trade Dependency and took the number one spot in Vice Dependency.

That’s right, despite New Mexico’s penchant for casinos, the state was tied with Indiana for having the second lowest percentage of adults with gambling disorders. Florida took the top slot.

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