Economy

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State officials and representatives of three New Hampshire companies will head to the United Arab Emirates this month for an industry trade show.

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Also known as the “banking act of 1933,” this law stemmed from the 1920s stock market crash and Great Depression that followed, with restrictions on banks and other financial institutions. Glass-Steagall was overturned about twenty years ago, but some are pushing to bring it back.

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Sheryl Rich-Kern for NHPR

  The U.S. Department of Labor is looking to gather wage data for New Hampshire’s building and construction industries. 

  The Obama Administration is touting the economic benefits of the Trans-Pacific Partnership, a trade deal between the U.S., Japan and 10 other Pacific Rim nations.

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The latest economic report from the New Hampshire Center for Public Policy Studies says 2016 will bring New Hampshire some of the strongest economic growth it’s seen in the last few years.

The state is set to release its latest jobs report today. 

The August report from New Hampshire Employment Security put the state’s seasonally adjusted unemployment rate at 3.6 percent, down a tenth of a point from July.

That’s in line with the generally strong jobs picture we’ve seen throughout the course of the year. 

But one of the reasons the rate fell in August was a drop of about 1,400 in the size of the labor force. 

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  After more than a year of planning, the state has called off this month’s planned trade mission to Colombia.

The mission was intended to help New Hampshire companies find export opportunities in Colombia. State officials say a number of firms expressed interest, but none signed up to make the trip.

Tina Kasim of the New Hampshire Office of International Commerce says the state is now considering a range of ways to help firms looking to do more business overseas.

NHPR Staff

With re-authorization of the Export-Import Bank stalled in Congress, several New Hampshire companies say they are feeling the impact.  New Hampshire’s two US Senators Kelly Ayotte and Jeanne Shaheen as well as 2nd District Congresswoman Ann McLane Kuster support re-authorization, while 1st District Congressman Frank Guinta has yet to take a position.

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New data shows New Hampshire’s housing market remained busy throughout the summer. 

The latest RE/MAX INTEGRA New England Housing Report shows the number of units sold in August 2015 was up 11 percent compared to the same period a year ago. 

Median home prices rose 2.3 percent. 

Cities and Counties Take Action on Minimum Wage

Sep 8, 2015
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Recently, cities and counties have taken the lead on mandating much higher pay for traditional low-wage jobs, instead of waiting for the states or the federal government.  Supporters say these increases are long overdue and only fair, but others warn of unintended consequences, including job losses and cutbacks in hours.

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Foreclosure sign
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In June, the New Hampshire Housing Finance Authority reported 181 foreclosures, the highest monthly total of 2015. Analysts thought it would be a one-time blip, but new figures from the NHHFA show July’s number was even higher – 188 foreclosures.

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New Hampshire’s U.S. Senators are holding a field hearing today on the state’s small business workforce.

Jeanne Shaheen and Kelly Ayotte will host a roundtable discussion with a group of business and educational leaders this morning at Manchester Community College.

The state has awarded three companies job training grants aimed at helping 56 workers obtain new skills.

Sig Sauer Inc. of Newington will use a grant of nearly $70,000 to train 24 employees in production technology.

Axenics Inc. of Nashua and C&M Machine Products of Hudson are using grants of more than $3,000 each for worker training.

The latest round of state job training grants totals over $76 thousand dollars, with companies contributing the same amount in matching funds

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Gas prices may continue to fall in New Hampshire for much of the rest of 2015.

The latest survey of gas prices from GasBuddy.com Sunday showed a median price of $2.53 per gallon. That’s 6 cents per gallon cheaper than prices of a week ago, and 17 cents per gallon below those of a month ago.

 

One of the state's first four medical marijuana dispensaries is proposed for a business park in western New Hampshire.

The Valley News reports Temescal Wellness, a Manchester-based organization that the state selected to sell medical marijuana, said it plans to locate one of its dispensaries in the Hanover Road Professional Center in Lebanon.

Organization President Ted Rebholz said the site was chosen to make it convenient for as many patients as possible. It is located near Dartmouth-Hitchcock Medical Center and interstates 89 and 91.

Foreclosure sign
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Foreclosure deeds rose in June in New Hampshire, but analysts say that was likely a one-time rise rather than the beginning of a trend.

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The New Hampshire Employment Security Agency is hosting a job fair in North Haverhill on Thursday.

It's going to be from 10 a.m. to 2 p.m. at the North Haverhill Town Office.

New Hampshire's unemployment rate held steady in June at 3.8 percent. That's down from 4.3 percent in the same month last year, and is lower than the national June average of 5.3 percent.

A variety of employers are expected to attend the job fair, representing such fields as health care, veterans resources, staffing agencies, manufacturing, government, and others.

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 Home sale prices and median home prices both rose in June compared to the same month in 2014. That’s according to a new housing report from RE/MAX INTEGRA New England and another from the New Hampshire Association of Realtors. 

NHAR president Maxine Goodhue says while overall home inventory is up as well, the market still slightly favors buyers, judging by the length of time it takes to sell a home. 

“The ones that really present well and are desirable are selling very quickly,” Goodhue says. “The ones that are more unique are sitting a little bit longer.”

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Several times a year New Hampshire Employment Security releases short-term forecasts on jobs. For the period of late 2014 through late 2016, the state expects 14,197 new jobs, which would be a gain of two percent for the period. The forecast says job growth is expected in every sector of the economy and in nearly every job category.

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  New data shows New Hampshire’s housing market picked up momentum in May.

The latest RE/MAX INTEGRA New England Housing Report shows the number of units sold in May 2015 was up 8.3 percent compared to the same period a year ago. Median home prices are up 4.5 percent, and overall housing inventory is up as well.

New Hampshire’s year-to-year sales growth in May was the strongest of any New England state. 

New Hampshire gas prices appear to be stabilizing after climbing in recent weeks. 

  Dan Goodman of Triple A Northern New England says the onset of summer often leads to a rise in gas prices. This month U.S. consumers saw the highest gas prices of the year, reaching an average of $2.80 per gallon.

But he says U.S. production has increased, as has production overseas.

“The world leaders in crude exports – Saudi Arabia and other Arab nations – are increasing oil production to record levels,” he says.

New Hampshire maple syrup producers saw higher yields last winter compared to the previous year.

Data from the U.S. Department of Agriculture found New Hampshire produced 154,000 gallons of syrup this year, compared to 112,000 in 2014.

Cold weather shortened the maple syrup season by several days in 2015, but yield per tap rose in New Hampshire over the winter.

Syrup production in the northeast totaled 2.96 million gallons, up 7 percent from 2014.

New Hampshire Employment Security

  New Hampshire’s unemployment rate remained at 3.8 percent in May, according to the latest monthly report from New Hampshire Employment Security. 

The state has seen solid job growth for most of this year, and May was no exception. But that doesn't necessarily show up in the latest overall jobs number, and economist Annette Nielsen of New Hampshire Employment Security says there’s a reason why. “It’s reflecting that more people were employed in May from April, about 1400 or 1500, but also approximately the same amount have joined the labor force," Nielsen says. 

 The state will release its latest monthly employment figures Tuesday, and New Hampshire economists are hoping for another strong report.

The trend lines for the state's labor market have largely been pointing in the right direction in 2015. The unemployment rate is down to 3.8 percent as of April, while the rate of labor participation has gone up.

Economist Dennis Delay of the New Hampshire Center For Public Policy Studies says New Hampshire is also seeing more job growth in higher-wage industries, like manufacturing, finance or health services.

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The unemployment rate is below four percent in New Hampshire and the labor force is growing, but some say our overall economic growth is still falling short. We’ll find out more looking at demographics, trade, the political climate, housing and healthcare.

$750,000 In Grants: Help For Micro Businesses

May 14, 2015
Chris Jensen for NHPR

  Grants totaling about $750,000 to help small businesses in most of the state have been approved by the New Hampshire Community Development Finance Authority.

The money will go to seven economic development organizations.

It will be used to help micro-businesses get the technical assistance they need to either start or grow.

Typically a micro business has no more than five employees.

The businesses must have low or moderate-income owners.

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New Hampshire will likely become the first state to repeal laws allowing employers to pay workers with disabilities at a rate lower than the minimum wage.

The bill passed this week by the House not only does away with a provision allowing employers to pay people with disabilities below minimum wage in most circumstances, but it also bans so-called sheltered workshops.  That’s when an organization sets up a workplace aimed at people with disabilities.

New Hampshire Employment Security

New data shows New Hampshire’s seasonally adjusted jobless rate held steady at 3.9 percent in March, but that doesn’t mean there haven’t been changes in the state’s labor market.

Economist Annette Nielsen with New Hampshire Employment Security says there’s more movement among those with jobs and those seeking them. “When there’s more employment opportunities," Nielsen said, "you see a tendency of more people that have been sitting kind of on the fringes joining back in. And that’s what we’re seeing right now.”

Tender Corporation Plans New Building In Littleton

Mar 24, 2015

  A Littleton company is putting up a new, 117,000-square foot building.

Tender Corp. says the facility will be finished in about a year and will allow it to consolidate three facilities.

The company makes a wide range of first-aid products ranging from wilderness first-aid kits to After-Bite which is used to treat insect bites.

The company has about 160 employees and an official said some hiring is expected with the new building. It has been in Littleton since 1973.

Ryan Lessard for NHPR

New Hampshire's colleges and universities say their latest report shows that they are major contributors to the state's vibrant economy.

The New Hampshire College and University Council estimates that its 22 public and private nonprofit institutions directly supported 17,800 jobs in fiscal year 2012-13 and generated an estimated economic impact of $5.8 billion.

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