The minimum wage in New Mexico is $12.00 per hour for all employees, effective January 1, 2023. This is the result of a law signed by Governor Michelle Lujan Grisham in 2019 that gradually increased the minimum wage to $12 per hour by 2023.
There are a few exemptions to the New Mexico minimum wage law. Tipped workers are paid a lower minimum wage of $3.00 per hour, but they must also receive tips that bring their hourly earnings up to the minimum wage. Employees under the age of 18 are also paid a lower minimum wage of $10.50 per hour, but only if they are working in their first 90 days of employment.
The New Mexico minimum wage is an important issue for many people across the state. It is a matter of fairness, economic security, and quality of life. The debate over the minimum wage is likely to continue in New Mexico.
Here are some additional facts about the minimum wage in New Mexico:
In 2023, the average wage in New Mexico was $27.65 per hour, or $57,520 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.
A Workstream hiring specialist can help you identify high impact ways to improve your applicant experience, and even help you determine what is a good hourly wage for your location and business.
