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Unemployment dropping, slowly

The Economic and Labor Market Information Bureau of New Hampshire reports that the unemployment rate in the Peterborough Labor Market, an area made up of 10 towns, including Antrim, Bennington, Dublin, Francestown, Hancock, Jaffrey, New Ipswich, Peterborough, Rindge, Sharon and Temple, rose overall between 2002 and 2012, from 3.9 percent to 5.2 percent.

However, the year-to-year unemployment rates tell a different story.

Since 2009, there has been a decrease in the unemployment rate in the Peterborough Labor Market area.

In December 2009, unemployment in the Peterborough Labor Market area was at 6.4 percent. The last time New Hampshire’s unemployment rate was that high was in March 1993 when the state was recovering from the recession of the 1990s.

Since 2009, the unemployment rate has been dropping. In 2010, unemployment was at 5.3 percent for that same time period and area.

By 2013, the Peterborough area unemployment rate had dropped to 4.9 percent.

This year, the N.H. Employment Security, Economic and Labor Market Information Bureau reports the unemployment rate for the Peterborough Labor Market area was 4.7 percent in April.

Comparatively the State of New Hampshire’s overall unemployment rate was 4.4 percent in April 2014, making it the eighth lowest monthly unemployment rate in the U.S. including the District of Columbia. While Vermont ranked second overall in lowest unemployment for the month of April, other neighboring states did not fare so well. Massachusetts ranked 26th, Rhode Island ranked 51, and Maine ranked 20th.

The national unemployment average was 6.3 percent for the same month.

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