NH Unemployment Still 2.5% as State Adds Jobs and Grows Labor Force - Granite Grok

NH Unemployment Still 2.5% as State Adds Jobs and Grows Labor Force

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Yesterday the New Hampshire Department of Employment Security issued its Press Release for August. While Democrats try to override his vetoes today, Governor Sununu can sit back and smile about the jobs picture. Employment looks secured.

New Hampshire’s preliminary seasonally adjusted unemployment rate for August 2019 was 2.5 percent, unchanged from the July rate, which remained at 2.5 percent after revision. The August 2018 seasonally adjusted rate was 2.5 percent.

Seasonally adjusted estimates for August 2019 placed the number of employed residents at 752,380, an increase of 920 from the previous month and an increase of 8,380 from August 2018. The number of unemployed residents increased by 250 over-the-month to 19,330. This was 550 more unemployed than in August 2018. From July to August 2019, the total labor force increased by 1,170 to 771,710. This was an increase of 8,930 from August 2018.

The Granite State has been breaching record territory for both labor force and employment all year. We’re statistically at full employment which means anyone who wants a job has one or can find one. There is one downside with a considerable upside. We have more jobs than bodies that want to fill them. This competition for labor increases, starting wages and benefit, bonuses, and even job-hopping to improve skills and pay.

For the record, the Democrat push for a mandated state hourly rate does the opposite. It forces employers to pay a price that may not fit a job, skill set or sector and deprives prospective employees of leverage.

Any such act of legislative force will have an immediate negative effect on our stellar performance. Democrats want it anyway because it is good for the union bosses. Any flat rate hourly mandate allows them to push for higher rates for union labor and with that an increase in dues.

That money converts into in-kind support and actual donation to Democrat campaigns. Left-Wing candidates win while the people they claim to represent will find it harder to get or keep a job.

It’s no secret that Democrats want the economy to tank, and for the same reason — political power.

They do not give a damn about you. It’s always about them.