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Archive for December, 2018

New Hampshire’s Unemployment Rate Reaches 30 Year Low

Tuesday, December 18th, 2018

The most recent state jobs report notes that 763,040 New Hampshire residents are employed in the Granite State, and unemployment rates had reached 2.5 percent – a low that has not been reached since August of 1988.

“Thanks to the strategic initiatives that New Hampshire has made, and our pro-growth, pro-jobs focus, more Granite Staters are working than ever before in the state’s history,” said Gov. Chris Sununu. “As New Hampshire’s unemployment rate remains well below the national average, it’s clear that we continue to set the gold standard for the rest of the country. Our strong, thriving workforce will serve as a solid foundation for further economic development.”

Department of Business and Economic Affairs Commissioner Taylor Caswell added, “Today’s economic news continues the positive trends of the past few years relating to the labor force; demographics; migration; exports; unemployment, and capital investment.

“We can say with confidence that New Hampshire’s economy remains highly competitive and will continue to attract top talent and world class employers.”

 

More Young Adult Migrants Moving to New Hampshire from Other U.S. Locations

Tuesday, December 11th, 2018

This analysis was conducted by the University of New Hampshire’s Carsey School of Public Policy.

NH is gaining young adult migrants in contrast to recession era migration losses.

New Hampshire received a significant net inflow of people from other U.S. states between 2013 and 2017, according to new Census Bureau estimates.


New Hampshire is now gaining young adult migrants in contrast to recession era migration losses.


The average annual domestic migration gain was 5,900 between 2013 and 2017. In contrast, only about 100 more people moved to New Hampshire than left it for other U.S. destinations annually during the Great Recession and its aftermath between 2008 and 2012.

The transformation was greatest among those in their 20s, who had an average annual migration gain of 1,200 between 2013 and 2017 compared to an average loss of 1,500 annually from 2008 to 2012.

Among those in their 30s, the net annual migration gain nearly doubled during the same period, while the net inflow of those 40 to 49 diminished slightly. As more family age adults migrated to New Hampshire, their children fueled a significant increase in the net influx of those under age 20.

In contrast, among those age 50 and over, the net outflow of people from the state increased slightly. Modest immigration from other countries at all ages supplemented the domestic migration gains analyzed here.

These recent domestic and immigrant migration gains are both modest, but they provide additional human and social capital to a state challenged by an aging workforce and population.

For more information about living and working in New Hampshire, visit ChooseNH.com

Growing Salem Business Reflects Growing Life Sciences Sector in New Hampshire

Tuesday, December 11th, 2018

Foxx Life Sciences CEO Tom Taylor, left; Commissioner Caswell

A manufacturer that has doubled in size over the past year is looking to expand again, its CEO said last week during a visit with Business and Economic Affairs Commissioner Taylor Caswell.

Foxx Life Sciences, a world-leader in custom, single use bottle, flask and carboy bioprocess assemblies for the biotech and pharmaceutical industries, is ready to max out on its 55,000 square-feet it’s been operating in since 2014. CEO Tom Taylor said he needs to expand the company into at least 100,000 square-feet in the next two years, to meet its ambitious goal of $100 million in sales in the next decade.

“Clearly, I want that to be in New Hampshire,” Taylor told Caswell. “Strategically, this is the best place in the world for us.”

Since 2014, Foxx has grown from five employees to over 50, supplying some of the world’s most recognizable names in biotech/medtech. This company, Caswell said, is part of the state’s fast growing life sciences sector, complementing the work of others in the industry, while earning an international reputation for its innovative products.

“This is exactly the kind of company that can be established in New Hampshire and join some world class companies, like Lonza,” Caswell said. “Boston, and its significant life sciences sector, is just 30 miles away, but there are clear advantages to doing business here, not the least is our business friendly climate.”

Caswell said his team at Business and Economic Affairs will work with Taylor on his needs for expansion and connecting him with other companies within the state’s life sciences sector.