New Hampshire Economic Outlook October 2015
Date: October 15th, 2015
The year 2016 will be a very good year for the New Hampshire economy with strong employment growth, driven by a continued recovery in the housing sector and low energy prices overall.
In the forecast presented one year ago, we noted that New Hampshire and Vermont were in a foot race to see which state had the second fastest job recovery in New England. Massachusetts had already recovered all of the jobs lost in the Great Recession. At this writing, New Hampshire is back to the level of employment last seen before the beginning of the Great Recession.
New Hampshire has a low unemployment rate (3.4 percent in September 2015 compared to the U.S. 5.1 percent), and state job growth has been gaining strength. About half of the jobs added in the last few years pay an above average wage.
Infrastructure is key to the well-being of any society, allowing smooth transit, healthy living, and a quality of life where the economy grows, so it is no small surprise that infrastructure investment continues to be a primary public policy conversation. And the state has many different tools at its disposal to support infrastructure development.