By year’s end, New Hampshire should regain all of the private-sector jobs lost during the pandemic, according to a state economist.
Employers also are seeing more competition from out-of-state firms looking to hire Granite Staters.
What’s Working
“I’ve seen a lot more companies from outside the state looking to rob our talent,” said Brian Gottlob, director of New Hampshire’s Economic and Labor Market Information Bureau.
“I see a lot more job postings from places far and away because of the ability to work remotely,” Gottlob told participants in an online forum Wednesday hosted by the Greater Manchester Chamber.
The state’s private sector workforce in December was 2.6% smaller than just before the pandemic in February 2020, the smallest percentage gap in the Northeast, Gottlob said. The December tally was 16,000 fewer jobs than in February 2020.
The state, meanwhile, set a January record for the highest median home price, and New Hampshire also had the nation’s largest increase in the rate of people quitting their jobs between October and November.
In his hour-long talk, Gottlob said he was “more bullish” on the Manchester area’s job picture than other parts of the state, despite the state’s biggest city getting hit harder by job losses in the food service and accommodations sectors.
“I think there are many more positive things that are occurring in the Manchester region than in New Hampshire,” Gottlob said.
He said the city has “real strengths” in technology, defense and professional services. Gottlob also cited entrepreneurial activity that will enable Manchester to “catch that next wave,” such as the Advanced Regenerative Manufacturing Institute operating in the Millyard.
Job postings statewide are higher now than before the pandemic.
“There’s a tremendous demand for labor. The labor market is strong, so what’s holding back more is having to do with the availability and the ability to match individuals to jobs that are in demand.”
Hannaford, which is hiring at all 36 of its New Hampshire supermarkets, brought on dozens of new workers at in-store job fairs.
“During a two-day recruitment effort last week, our Manchester-area stores added 82 new associates,” Hannaford spokesman Eric Blom said Wednesday.
On the housing front, the median house price statewide was $399,700 in January, nearly $50,000 higher than a year earlier. Condos came in at $300,000, also the highest January price on record and the third-highest ever, according to Dave Cummings, director of communications for the New Hampshire Realtors.
“As an organization, we continue to be concerned with the affordability of housing in New Hampshire, particularly as it impacts our first-time buyers,” Cummings said.
The group is “wary of a market that prices out many of those who might otherwise be able to experience homeownership,” he said.
Carroll County, which includes the Lake Winnipesaukee towns of Moultonborough and Wolfeboro, saw a 34% spike in prices over a year’s time. Its median price of $445,000 edged out Hillsborough County ($442,500), which includes Manchester and Nashua.
Rockingham County, which includes Portsmouth and the Seacoast, led the field at nearly $540,000.
What’s Working, a series exploring solutions for New Hampshire’s workforce needs, is sponsored by the New Hampshire Solutions Journalism Lab at the Nackey S. Loeb School of Communications and is funded by Eversource, Fidelity Investments, the New Hampshire Charitable Foundation, Dartmouth-Hitchcock Medical Center, the New Hampshire College & University Council, Northeast Delta Dental and the New Hampshire Coalition for Business and Education.
