The growing problem of unemployment in NH

NH Business: The battle of New Hampshire with unemployment

Fred Kocher is joined by Brian Gottlob, Director of the New Hampshire Bureau of Economic Labor and Market Information at the Department of Employment Security, to discuss New Hampshire’s unemployment issues



>> WELCOME TO THE NEW HEMSHER BUSINESS. I TALKED TO BUSINESS OWNERS AND THEY ARE TRYING TO FIND THE EMPLOYEES THEY NEED TO WORK AT FULL CAPACITY, AND YET THE LEVEL OF BEZABYA NUZABI VEZABI. FOR THIS PROVIDE, CONSIDER THESE FINDINGS ON THE WORK AND ECONOMY OF NEW HEMPSHIRE, PROVIDED BY THE BUREAU OF ECONOMICS AND LABOR OF NEW HEMPSHEIR. UNEMPLOYMENT HAS ATTACKED TO HISTORICAL DAYS AND THE PREDAPENDEMY LEVEL OF THIS EPEN. STILL STRONG GROWTH OF NEW BUSINESS, DEVELOPMENT OF JOB OPENING, ENERGY PRICES AND INFLATION FOR SLOWING DOWN GROWTH IN THE NATIONAL ACTUALLY AND THIS IS WHAT MY GUEST WHO MANAGES THIS, THIS IS THE COUNTRY OF DELIVERY THINKS. WE DO NOT HAVE SUPPLY FROM INDIVIDUALS AND MATERIALS FOR PERFORMING THE ECONOMY AT THEIR POTENTIAL. THE MAN WHO SAID HE WAS MY GUEST AND SUPREME ECONOMIST OF NEW HEMSHIRE, DIRECTOR OF THE BUREAU OF INFORMATION ON ECONOMIC WORK IN THE DEPARTMENT OF SECURITY SECURITY. WELCOME, BRIAN. >> THANK YOU, FRED, IT’S GREAT TO BE HERE. >> BUSINESS OF ALL TYPES AND SIZES CONDITIONS FIND EMPLOYEES. ANNOUNCED TO WORK AT A RECORD HIGH IN NEW HAMSHERS. >> YES, BEFORE THE PAndEMIC, WE HAD A PROBLEM WITH WORK DEFICIT, FRED. BUT THEN WE ADDED ANNOUNCED FOR WORK ABOUT 11,000 MONTHS AND YOU LOOK AT THE GRAPHIC AND SEE, NOW WE ARE OVER 20,000, 21,000 ANNOUNCED FOR WORK ON A MONTHLY BASE ON A MONTHLY BASE. WE HAVE Fewer PEOPLE IN THE LABOR FORCE. >> I WAS SURPRISED BY THIS, HONESTLY. THIS SPECIAL REASON FOR THE HIGH DEVELOPMENT OF WORK IN THE COUNTRY, THE PROCEDURE OF LEAVING. >> The refusal percentage is developing everywhere, New Hampsher is the red line in this diagram, and you notice that New Hampsher’s refusal percentage is accelerated at a higher rate than the nation or mahut. YOU KNOW, THE GREAT RESIGNATION WAS COLD. I think, in New Hamshire, the big reason for this, we have a concentration of industries, a higher concentration of industries, which have the highest recipes of refusal and increased after the recession recession, again the holical recession public. FROM THESE PERSONS TO DECIDE TODAY TO TAKE DIFFERENT PROFESSIONS. >> AND THE RELATIONSHIP BETWEEN THE WORKERS, AS YOU KNOW, AND THE AFFORDABLE HOUSING IN NEW HAMPSHIRE IS SOMETHING, WE ARE FOCRESSING ON THE NEW HAMPSHIRE BUSINESS. THIS GRAPHIC SHOWS THAT THE HOUSING IS AN OBSTACLE TO THE LABOR FORCE. >> YES, ONE OF THE THINGS THAT WAS POSITIVE. THERE WASN’T MUCH DURING THE PAndemic. We have added many persons who moved to the state 13 600 in 2021, the problem is that we have not built enough houses to accommodate them, so we have a housing sack and for which to adjust or for more than a decade, we are disadvantage HOUSING IN THE STATE AND WE KNOW IT WAS WORSE DURING THE PAndemic BECAUSE WE CAN’T BUILD A LOT, WE CAN’T FIND MATERIALS, WE CAN’T FIND IT. >> AND THE BIGGEST CHALLENGE TO THE ECONOMY IS THE RETURN AND INCREASE OF THE LABOR FORCE, YOU SAID. >> ONE OF THE THINGS, A LEGACY OF THE PAndemic. WE KNOW MANY PEOPLE WHO COME OUT OF THE LABOR DURING THE PAndemic. ESPECIALLY OLDER WORKERS DUE TO HEALTH ADVANTAGES, SOME BECAUSE THEY FELT, BUT THAT I HAD ACCUMULATION WEALTH TO GO OUT. We reduce over 20,000 persons for our workforce, as you can see on this graph, a large drop in the workforce, is evolving, but not at a tempo to meet quickly, take the needs they have. >> AND FINALLY ON THIS LAST GRAPH FORECASTS, ON THE RIGHT SIDE THE FORECAST FOR 2022, 2023 IS DECREASING. >> It seems to me that 2022 WILL END A SUFFICIENT SOLID YEAR. I THINK WE WILL SEE A DELAY IN THE GROWTH OF WORK WITH THE PROGRESS OF THE YEAR. WE KNOW THAT THE FEDERAL RESERVE HAS INCREASED INTEREST SIGNIFICANTLY. WE KNOW THAT PRICES AFFECT CONSUMER DEMAND. SO WE EXPECT THAT JOB GROWTH WILL SLOW DOWN. IT WILL PROBABLY BE ABOVE 3% FOR 2022 AND THE CONCERNS FOR 2023, THE FED EXPRESSED IT VERY CLEARLY, THEY WILL BE LOOKING TO REDUCE INFLATION AND NOW THEY ARE LESS, BUT STOPPED. YESTERDAY I REDUCED THIS FORECAST A LITTLE FROM 8% TO ABOUT 5%, I THINK UP TO A YEAR. EMI: BRIAN IS DIRECTOR OF ECONOMIC LABOR AND ECONOMIC BUREAU, MARKETING INFORMATION BUREAU AT THE LABOR SAFETY DEPARTMENT. THANK YOU, BRIAN. IF YOU MISS A PART OF THIS BRIEF

NH Business: The battle of New Hampshire with unemployment

Fred Kocher is joined by Brian Gottlob, Director of the New Hampshire Bureau of Economic Labor and Market Information at the Department of Employment Security, to discuss New Hampshire’s unemployment issues

New Hampshire was already battling unemployment before the pandemic, so what factors exacerbate the problem? Fred Kocher joins Brian Gottlob, director of the New Hampshire Bureau of Economic Information and Market Information at the Department of Employment Security, to discuss feeding New Hampshire unemployment issues.

New Hampshire was already battling unemployment before the pandemic, so what factors exacerbate the problem?

Fred Kocher is joined by Brian Gottlob, Director of the Bureau of Economic Information and Market Information in New Hampshire at the Department of Employment Security, to discuss New Hampshire’s feeding problems with unemployment.

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