New Mexico § 51-1-3 - Declaration of state public policy

§ 51-1-3. Declaration of state public policy

As a guide to the interpretation and application of this act, the public policy of

this state is declared to be as follows: economic insecurity due to unemployment

is a serious menace to the health, morals and welfare of the people of this state. Involuntary unemployment is therefore a subject of general interest and concern

which requires appropriate action by the legislature to prevent its spread and to

lighten its burden which now so often falls with crushing force upon the unemployed

worker and his family. The achievement of social security requires protection against this greatest hazard

of our economic life. This can be provided by encouraging employers to provide more stable employment

and by the systematic accumulation of funds during periods of employment to provide

benefits for periods of unemployment, thus maintaining purchasing power and limiting

the serious social consequences of poor relief assistance. The legislature, therefore, declares that in its considered judgment the public

good, and the general welfare of the citizens of this state requires the enactment

of this measure, for the compulsory setting aside of unemployment reserves to be used

for the benefit of persons unemployed through no fault of their own.