New Hampshire has had excellent employment numbers all summer long and now they are even better. According to the Department of Employment Security, the Granite State is still plumbing record territory.
Seasonally adjusted estimates for November 2018 placed the number of employed residents at 743,860, an increase of 1,170 from the previous month and an increase of 16,570 from November 2017. The number of unemployed residents decreased by 540 over-the-month to 19,180. This was 250 fewer unemployed than in November 2017. From October to November 2018, the total labor force increased by 630 to 763,040. This was an increase of 16,320 from November 2017 business growth.
The effect of tax cuts at the state and federal level continue to reap rewards for workers. Year over year more people are looking for work and finding it — improvements that had no impact on local elections in the State.
New Hampshire Democrats are taking over in January with a handicap. A great deal of what happens in employment security can be affected by the perception that the government is going to do things that suppress business growth.
The Left has promised to repeal New Hampshire’s business tax cuts. Democrat leaders ran for office committed to undoing the “injustice” of tax cuts Republicans approved for job creators.
The Republican governor will veto any such moves, but no veto is secure. And there’s the rub. The perception that things which made it possible to hire more people are at risk could depress employment. Real employment benefits like added tax revenue (yes, Democrats, from lowering taxes) are also at stake.
Time will tell. But numbers this good while great for New Hampshire’s citizens put Democrats in a higher position from which to fall.
