The current minimum wage in Albuquerque, New Mexico is $12.00 per hour. This is higher than the federal minimum wage of $7.25 per hour, but lower than the current average minimum wage of $15.20 per hour across the United States. The minimum wage in Albuquerque has increased steadily in recent years. In 2019, the minimum wage was $10.50 per hour. It increased to $11.50 per hour in 2022, and then to $12.00 per hour in 2023. The city of Albuquerque is considering raising the minimum wage to $15.00 per hour by 2025.
However, it is unclear if this proposal will be approved by the city council. A livable wage in Albuquerque is estimated to be $15.60 per hour for a single adult with no children. This means that a worker earning $15.60 per hour would be able to afford a basic standard of living in Albuquerque, including housing, food, transportation, and healthcare. It is estimated that there are approximately 100,000 workers in Albuquerque who make minimum wage. This includes both full-time and part-time workers.
What is the difference between gross wages and net wages?
It's important to remember that the Hourly Wage Index data above reflects gross wages, or the amount of money an employee earns before accounting for payroll deductions like taxes, benefits, or wage garnishments. Due to variability in tax rates across locations, slightly lower gross wages in a certain location might result in higher take home pay, or vice versa.
What is a good hourly wage?
It's important to remember that the Hourly Wage Index data above reflects gross wages, or the amount of money an employee earns before accounting for payroll deductions like taxes, benefits, or wage garnishments. Due to variability in tax rates across locations, slightly lower gross wages in a certain location might result in higher take home pay, or vice versa.
Offering competitive pay is one of my top priorities—what other resources do you have that might help?
It's important to remember that the Hourly Wage Index data above reflects gross wages, or the amount of money an employee earns before accounting for payroll deductions like taxes, benefits, or wage garnishments. Due to variability in tax rates across locations, slightly lower gross wages in a certain location might result in higher take home pay, or vice versa.
Still have questions?
Learn more about paying, hiring, and retaining the hourly workforce
We're here to help!
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.
