Tag: Restaurant Industry

Vanishing Iconic Businesses, Fragile Economy—New Mexico’s Warning Sign You Can’t Ignore

A wave of closures is hitting longtime New Mexico businesses, from beloved Albuquerque restaurants like The Farmacy and Bosque Brewing to family-owned shops. Surging operational costs and stagnant local spending power are exposing deeper vulnerabilities in a state overly reliant on volatile oil and gas revenues and government employment.

Albuquerque is Raising the Minimum Wage to $15 by 2030 — Here’s How it Could Reshape Paychecks, Families, and Local Businesses

The Albuquerque City Council has approved a gradual increase in the city’s minimum wage, raising it to $15 an hour by 2030. Supporters say the measure will help working families cope with rising living costs, while businesses argue the phased approach gives employers time to adjust. The decision highlights the ongoing debate over wages, affordability and economic growth in New Mexico’s largest city.