February new hires drop 26%

Just as the nation’s employment picture shows sings of improvement, the number of newly hired workers in New Hampshire plunged by 25.6 percent in February as compared to January.The New Hampshire Department of Economic Security reported that there were 13,719 new workers added to payrolls in February, down from the 18,450 reported in January. The number of new hires in February was nearly 60 percent below the 20,097 reported in February of last year.In fact, numbers have not been this low since February 2009 during the height of the recession when 13,425 new hires were recorded. Only January 2010, at 10,734, March 2009, at 11,838, and August 2009, at 12,598, had lower numbers since NHBR began tracking statistics in 2008.Employment Security does not provide analysis for hiring patterns.The department tracks the data monthly from W4 forms submitted by employers, which are required by law to report new hire information. – CINDY KIBBE/NEW HAMPSHIRE BUSINESS REVIEW