Latest unemployment claims show a slower jobs recovery in New Hampshire

When it comes to jobs, New Hampshire’s economy is still heading in the right direction, but the recovery seems to be slowing down, according to the last weekly unemployment report before the election.

Some 1,880 Granite Staters filed initial unemployment claims in New Hampshire during the week ending Oct. 24, down by about 10% from the previous week. But those previous numbers were revised upwards.

In other words, last week was good, but the week before wasn’t as good as it seemed, and the recovery, which appeared to be accelerating, is really more steady and slower. And the number of layoff is more than triple the number compared to pre-pandemic levels.

In the week ending Oct. 17 there were a total of 25,832 continuing unemployment claims, a decrease of 2,185, or 7.8%. That’s good, but in the previous two weeks, the drop was over 8%. Still, more than 305 people went back to work that week then lost their jobs the following week, but that was less than half the difference of the week before.

The situation is similar nationally. Some 751,000 initial jobless claims were filed, 40,000, or 5%, less than the previous week’s total, a total that was also revised upward. And there were 7.8 million continuing claims, an 8.4% drop.

For those who still can’t find jobs, things are looking grim. It is now the seventh week since the federal enhancement of an extra weekly $300 – already down from the original $600 – ended. And for those who started collecting in March all unemployment benefits should cease in January. Savings are running out while talks between the White House and the U.S. House to increase or extend those benefits have failed. The U.S. Senate concentrated on approving President Trump’s Supreme Court nominee before being sent home to campaign. If any compromise is reached, it will have to be voted by a lame duck Congress before the holidays or the new Congress after New Year’s Day.