In New Mexico, the minimum wage is $12.00 per hour. Employees must be paid this hourly wage for all hours worked, with few exceptions. The minimum wage in New Mexico was last raised on January 1, 2023 and this is about $480 weekly and $24,960 per year.
The minimum wage in New Mexico is higher than the federal minimum wage of $7.25 per hour.Some states have a minimum wage that is lower than the federal level, but New Mexico's is higher.
In 2023, the average wage in New Mexico was $20.79 per hour, or $43,243 per year. This is higher than the minimum wage of $9.00 per hour, but still below the national average wage of $21.89 per hour, or $45,531 per year.
However, it is important to keep in mind that the cost of living in New Mexico is relatively low when compared to other states. For example, the average rent for a one-bedroom apartment in Albuquerque is $763 per month, which is lower than the national average of $1,191.