By Stephen Cheslik
EAGLE TIMES MANAGING EDITOR
New Hampshire has the lowest unemployment rate in the nation, and Vermont isn’t far behind.
According to the U.S. Bureau of Labor Statistics, New Hampshire’s unemployment rate was 1.7 percent in June, one-tenth of a percent better than Vermont and Maryland at 1.8 percent.
Like the nation, both states saw their unemployment rates fall by 0.1 percent from June to July.
“New Hampshire earned the No. 1 ranking for economic opportunity for a reason,” said New Hampshire Gov. Chris Sununu. “We’ve cut taxes again and again, we’ve slashed red tape to make it easier than ever to work in the Granite State, and we’ve become a destination for families and businesses alike as the fastest growing state in New England. The New Hampshire model works.”
Vermont’s unemployment rate would have been lower had it not been for the recent floods, according to Vermont Labor Commissioner Michael Harrington.
“As Vermont continues with recovery efforts, the data … adds some initial perspective to the overall magnitude of the disasters,” Harrington said. “The monthly numbers show a decrease of 1,700 jobs in July in the Accommodation and Food Services industry. The weekly reports showing unemployment insurance claims level activity also provides a partial picture of the economic disruption with claims levels 50 percent higher this summer when compared to last summer.”
Nationally, the seasonally adjusted unemployment rate in July was 3.5 percent. Nevada has the highest unemployment rate in the nation at 5.3 percent. In neighboring states, Maine has the next lowest rate at 2.4 percent, the rate in Massachusetts is 2.5 percent and the New York rate is 3.9 percent.
According to New Hampshire’s Economic and Labor Market Information Bureau, 13,100 state residents were unemployed in July, which is down 360 residents from the month before and 6,430 residents from the year before. Not all numbers are positive. However, the number of residents employed in the state is also shrinking along with the unemployment rate. In July, 747,200 New Hampshire residents were employed, a decrease of 1,760 from the previous month and 2,570 from the previous year. The New Hampshire unemployment rate is down 0.8 percent from a year ago.
Across the Connecticut River in Vermont, 429 fewer residents were unemployed than the month before and 2,334 fewer than a year ago, according to the state Labor Department. While the state’s workforce is significantly smaller than New Hampshire’s, its employed workforce grew by 1,157 employees from the month before and 7,439 employees from the year before to include 341,181 employed residents and 6,293 unemployed residents. The Vermont unemployment rate is down 0.7 percent from a year ago.
As your daily newspaper, we are committed to providing you with important local news coverage for Sullivan County and the surrounding areas.