New Hampshire’s unemployment rate drops to 3.3%
(The Center Square) – New Hampshire’s unemployment rate dropped slightly to 3.3% in February, according to the newly released figures, which show the state’s labor market improving.
The preliminary, seasonally adjusted unemployment rate last month dropped by 0.3 percentage points from January’s 3.6% rate, New Hampshire Employment Security said in a report.
That’s the lowest unemployment rate in the Granite State since the outbreak began a year ago, and one of the lowest jobless rates in the nation.
At the height of the pandemic, New Hampshire’s unemployment rate rose to more than 16% as tens of thousands of workers were sidelined to prevent the spread of the virus.
While the number of unemployed workers dropped by 2,190 from January to 24,950, the state agency said there were 4,780 more unemployed workers in February than a year ago, which they attribute to the ongoing financial impact of the pandemic.
Meanwhile, there were 736,520 people employed in the state in February, the agency said. That’s an increase of 720 from the previous month, but down 14,290 from a year ago.
Overall, New Hampshire’s labor market has been steadily improving in recent months even as other New England states struggle to rebuild their economies.
There were 2,482 new claims for state unemployment benefits for the week that ended March 6 – a drop of 35 from the previous week, according to the U.S. Department of Labor’s weekly report. Meanwhile, 24,819 continuing claims – a barometer of the unemployment situation – were filed in the week ending Feb. 27, declining by 388 over the previous week.
The state has paid out more than $1.8 billion in federal and state unemployment benefits since mid-March, when the COVID-19 outbreak began.
The national unemployment rate decreased by 0.1% to 6.2% in February, according to preliminary data from the U.S. Labor Department.
New Hampshire’s local unemployment rates – which are often higher than the state’s rate depending on the region – will be released April 1, the state agency said.
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