Vermont Business Magazine New Hampshire’s preliminary seasonally adjusted unemployment rate for July 2016 was 2.9 percent, an increase of 0.1 percentage point from the June rate which remained at 2.8 percent after revision. The July 2015 seasonally adjusted rate was 3.4 percent. Seasonally adjusted estimates for July 2016 placed the number of employed residents at 732,860, an increase of 1,730 from the previous month and an increase of 15,930 from July 2015. The number of unemployed residents increased by 960 over-the-month to 21,970. This was 3,150 fewer unemployed than in July 2015. From June 2016 to July 2016, the total labor force increased by 2,690 to 754,830. This was an increase of 12,780 from July 2015.
The unadjusted July 2016 unemployment rate for New Hampshire was 2.9 percent, an increase of 0.1 percentage point from the June rate which increased to 2.8 percent after revision. The July 2015 unadjusted rate was 3.3 percent.
Nationally, the seasonally adjusted unemployment rate for July 2016 was 4.9 percent, unchanged from the June rate, and a decrease of 0.4 percentage points from the July 2015 rate. The national unadjusted rate for July 2016 was 5.1 percent, unchanged from the June rate, and a decrease of 0.5 percentage points from the July 2015 rate.
Vermont's rate will be released Friday August 19. Vermont's rate was tied for fourth lowest in the US in July at 3.2 percent. New Hampshire had the second lowest rate last month.
New Hampshire Governor Maggie Hassan today issued the following statement on the announcement of the July unemployment data, which showed that New Hampshire's unemployment rate remained one of the lowest in the nation, with more people entering the workforce, and the number of employed Granite Staters continuing to hit new record levels:
"Our low unemployment rate, record number of employed Granite Staters and growing labor force are clear signs that our economy continues to strengthen. Over the last several years, we have worked together across party lines to move our economy forward and make progress for our people and businesses, but there is still more work to do to help all of our citizens access high-quality jobs, support our innovative businesses and expand middle class opportunity.
"While our unemployment rate remains among the lowest in the nation and our labor force and the number of employed Granite Staters continue to grow, innovative businesses need more skilled workers now. Our Gateway to Work initiative has strong support from the business community because it will help develop an even stronger workforce that our businesses need to grow and thrive, and I continue to urge the Joint Legislative Fiscal Committee to approve the transfer of existing federal funds so that we can get this important program up and running.
"As our economy continues to strengthen, I will continue working with members from both parties to make progress on the critical economic priorities that will help support job-creating businesses, expand middle class opportunity and build a stronger, more innovative New Hampshire where all of our people who work hard have the opportunity to get ahead and stay ahead."
Source: NH.GOV 8.16.2016 NOTE: State nonfarm employment estimates are available at www.nhes.nh.gov/elmi concurrent with this release. Local area unemployment rates are expected to be available on Thursday, August 25. All monthly data will continue to be published in the monthly newsletter New Hampshire Economic Conditions.