Diversification is also important to our personal investment portfolios. We need to spread the risk. We limit our exposure to downturns. We must put our financial eggs in multiple baskets. The same is true for cities and states.
Economies have surprises.
Emergencies can arise. While we have made significant strides, there are major challenges ahead. Citizens throughout New Mexico should be concerned about our state's reliance on the federal government, and commit themselves to the continued diversification of the economy. Manufacturing employment has grown, but it represents today only 9 percent of total employment in the Albuquerque metro and 6.4 percent statewide, compared to 15.4 percent nationally. Government employment in Albuquerque is 18.3 percent of our total employment, compared to 22.9 percent statewide and 16.2 percent nationally.