Job growth = Boost to Lakes economy???

[This'nThat]

I wonder if this means the Lake will be booming again this year, or will other factors (high prices for food/gas) be a counterweight? From CNN Money:

Not only does New Hampshire currently have one of the nation's lowest unemployment rates, but the state has seen some of the biggest reductions in joblessness this past year. Unemployment dropped by 1.5% to 5.4% in November from nearly 7% the same time last year. It may not be all that surprising that the New England state known to tourists as a winter playground for skiing and other recreation would fare better than the rest of the country. New Hampshire doesn't have a state income or sales tax, and the allure of its tax benefits has drawn new industries and companies.
Anyone feeling the trickle down yet?

[hilltopper]

I'm always leary these days reading about unemployment. For example, say I was an Engineer that was making $60K a year with benefits, was laid off and unemployed for a year, and then took some temp job for $35K a year with no benefits. Well, according to the numbers, I am no longer unemployed. However I am seriously UNDERemployed.

Anyways, to answer your question, the wifey has been looking for a job for over a year and I haven't noticed call backs increasing at all recently...

[robmac]

It also does not take into account people who are no longer able to collect unemployment. We are not out the the woods by a longshop however we are not in as bad shape as some states. Look at MA. they gave 58 million in incentives last year to a solar company based out of Fort Devens last year,that company is relocating to MI and China 800 well paying jobs lost. How many of those folks are from NH.

[Lucy Goose]

Yes there are lots of folks that are no longer able to collect. They don't factor them in I'm sure.

I've been out of work since March of 2009. I was in high tech and I can't even get a job doing administrative work. Anyone hear of work let me know. I am a very hard worker.

[Argie's Wife]

Check those stats - it's based on who's collecting (or not) vs. who really has jobs.

[Lakesrider]

These numbers always come out a bit skewed at the Holidays due to temp help coming and going, ski areas hiring temp help for the season etc...Then it will get all cockeyed again when summer comes and all the temp hires during tourist season....Blah, Blah. Let the State tell us things are smelling like Roses when new businesses that are hiring by the hundereds come to the State. Like Cabella that got sick of the red tape and pulled out. The Manchester Hospital that was built using out of State workers....Highway construction that has ground to a halt due to the economy. Stimulus.."Putting American to work"? Not!

[tis]

Apparently the state doesn't feel unemployment is going down as unemployment rates went up again for the last quarter of the year.

[fatlazyless]

www.nh.gov/nhes/elmi/laushighlight.htm

Lowe's - Gilford has been very empty lately so that could be an indicator for a slowdown in local remodeling-construction-painting-lawn & garden. Thankfully, frozen pipes and snow removal are holding their own!

So what's the latest on the burnt-out Wide Open Saloon? With the top floor all burned away, it definitely looks like it is wide open. So where's the friendly insurance adjuster with a big bucket of hundred dollar bills in each hand that's ready to replace or rebuild it into a new Wide Open Saloon and put 20-something different construction people to work?

[This'nThat]

Job growth isn't enough. So, here's today's prediction regarding housing recoveryfrom CBS Marketwatch. "Other states that fall into the early-recovery category include Vermont, Hawaii, Montana, Wyoming, New Mexico, Colorado and New Hampshire."

It just shows that New Hampshire is predicted to be one of the earliest states to recover. Yes, there will be individual differences and uneveness in the recovery. But overall, it's going to be a lot better than states like Rhode Island or Nevada.

[BroadHopper]

Politics is doing their usual, if it 'feel good', tell them, if not, what they don't know won't hurt.

Wall Street already published that almost half of the workforce is effected by the economic downtown. Unemployed, underemployed and or reduction in pay. This means less disposable income for folks to spend. This creates less jobs. On top of that, energy and health care prices are rising even higher.

Unemployment around 10% will be the new norm. With less disposable income, the tourist and entertainment industry will get a big hit. NH Hospitality Association published in the NH business magazine that sales are off last year about 40%. Contradicting what a certain group of people claim.

The retail industry have not stop closing stores. One local chain close down 300 stores last year. More will close this year.

NH Insurance Department made a ruling this year in order for the retail industry to recover, that retail do not have to cover benefits for part timer. leaving it up to Obamacare to take over.

Health premiums are skyrocketing. Health insurance companies are blaming the reduction of subscribers are driving premiums up. Thus making premiums unaffordable for more folks. Another vicious cycle. Already the health industry are laying off and hospitals and clinics are declaring red ink.

As an economist, I can go on and on. I think you folks got the picture.

The NH tourism industry will take a long time to recover, if at all.

[secondcurve]

Politics is doing their usual, if it 'feel good', tell them, if not, what they don't know won't hurt.

Wall Street already published that almost half of the workforce is effected by the economic downtown. Unemployed, underemployed and or reduction in pay. This means less disposable income for folks to spend. This creates less jobs. On top of that, energy and health care prices are rising even higher.

Unemployment around 10% will be the new norm. With less disposable income, the tourist and entertainment industry will get a big hit. NH Hospitality Association published in the NH business magazine that sales are off last year about 40%. Contradicting what a certain group of people claim.

The retail industry have not stop closing stores. One local chain close down 300 stores last year. More will close this year.

NH Insurance Department made a ruling this year in order for the retail industry to recover, that retail do not have to cover benefits for part timer. leaving it up to Obamacare to take over.

Health premiums are skyrocketing. Health insurance companies are blaming the reduction of subscribers are driving premiums up. Thus making premiums unaffordable for more folks. Another vicious cycle. Already the health industry are laying off and hospitals and clinics are declaring red ink.

As an economist, I can go on and on. I think you folks got the picture.

The NH tourism industry will take a long time to recover, if at all.

Broadhopper:

I think you are overly overly pessimistic about the situation. That being said, globalization and technology have served to lessen job growth this time around; unemployment is now more structural than cyclical but with time the economy will gradually improve.

[Rusty]

At my age and how I have my money invested, the below graph showing how the stock market has improved since February 2009 makes me very happy….very happy!! :)

http://data.moneycentral.msn.com/scripts/chrtsrv.dll?symbol=%24INDU&E1=0&LPR=2&C1=0&C2=2&D5=0&D2=0&D4=1&DD=1&width=612&height=258&CE=0&CF=0

[Lakegeezer]

How much has the lakes region economy been improved by the influx of telecommuter workers? Can it be measured?

These are jobs with national or international firms who allow their workers to work "anywhere". In the past 10 years - five for sure - the availability of high-speed internet has made work-at-home telecommuting possible, and the region isn't THAT far from the airports. Telecommuters bring an increase of disposable income, some of which will be spent locally, creating jobs. Has there been a trickle, or a flood?

[fatlazyless]

And, who's the largest employer in New Hampshire? The correct answer is Walmart Stores Inc.....aka.....Wal-Mart. Ten years ago, the largest NH employer was probably Data General who got bought by Compaq who got bought by Hewlett Packard and as far as I know all the Data General facilities were closed.

It would be nice to see Wal-Mart move into that 8400 sq ft vacant space next to the Meredith Rite Aid with a mini Wal-Mart. That's a business that could easily be successfull in that space which has been vacant since it was constructed in November 2008. What a concept....a 8400 sq ft mini Wal-Mart to help fill in the spaces between the Wal-Mart in Plymouth and in Gilford.

Meanwhile, Wal-Mart is forever challenging their local assessed property tax values before the state board in Concord. Just like Wal-Mart pressures their suppliers for lower prices, they do the same thing with their property taxes by challenging their assessed values.

While Vermont has only two Wal-Marts in the entire State of Vermont, New Hampshire has maybe 25 Wal-Marts so it seems like New Hampshire has changed in 50-years from being a "Cow Hampshire" to a "Wal-Hampshire." Proposed highway signs for down at the border crossings could read: "Au Bienvenue Wal-Hampshire - Live Free or Die!"

[upthesaukee]

It would appear that others would have a different opinion of who are the 50 largest employers in NH.

Here's a link to a list that seems to contradict Walmart being the largest employer in NH.

http://www.acinet.org/oview6.asp?soccode=&id=&nodeid=12&stfips=33&from=State

Not that I am an expert on these things, but it looks like there may some others in contention.:confused:

[Rusty]

New Hampshire Community Impact
Real Estate
As of December 2010, Walmart's (http://walmartstores.com/pressroom/StateByState/State.aspx?st=NH) presence in New Hampshire includes:

Supercenters: 12
Discount Stores: 15
Neighborhood Markets: 0
Sam's Clubs: 4
Distribution Centers: 1

Average store size (national average)

Supercenter: 185,000 sq. ft. with approx. 142,000 items
Discount Store: 108,000 sq. ft. with approx. 120,000 items
Neighborhood Market: 42,000 sq. ft. with approx. 29,000 items
Sam's Club: 132,000 sq. ft. with approx. 5,500 items

People
•As of January 2011, the total number of Walmart associates in New Hampshire is 8,574.
•As of January 2011, the average wage for regular, full-time hourly associates in New Hampshire is $14.09 per hour (Walmart Discount Stores, Supercenters, and Neighborhood Markets). Additionally, associates are eligible for performance-based bonuses.
•In recent years, Walmart has contributed four percent of an associate's eligible pay to their combined Profit Sharing and 401(k) Plan

[Argie's Wife]

New Hampshire Community Impact
Real Estate
As of December 2010, Walmart's (http://walmartstores.com/pressroom/StateByState/State.aspx?st=NH) presence in New Hampshire includes:

Supercenters: 12
Discount Stores: 15
Neighborhood Markets: 0
Sam's Clubs: 4
Distribution Centers: 1

Average store size (national average)

Supercenter: 185,000 sq. ft. with approx. 142,000 items
Discount Store: 108,000 sq. ft. with approx. 120,000 items
Neighborhood Market: 42,000 sq. ft. with approx. 29,000 items
Sam's Club: 132,000 sq. ft. with approx. 5,500 items

People
•As of January 2011, the total number of Walmart associates in New Hampshire is 8,574.
•As of January 2011, the average wage for regular, full-time hourly associates in New Hampshire is $14.09 per hour (Walmart Discount Stores, Supercenters, and Neighborhood Markets). Additionally, associates are eligible for performance-based bonuses.
•In recent years, Walmart has contributed four percent of an associate's eligible pay to their combined Profit Sharing and 401(k) Plan

And how many of those employees are eligible for food stamps and Medicaid because of Wal-Mart's management practice of scheduling employees so they aren't eligible for benefits?

[fatlazyless]

And how many of those employees are eligible for food stamps and Medicaid because of Wal-Mart's management practice of scheduling employees so they aren't eligible for benefits?

I have no idea but probably there's plenty plenty Wal-Mart employees who qualify. I believe that 30-hours/week is the boundary number between full-time and part-time.

Wal-Mart is the largest private employer in the U.S. with over two million employees so it's very possible that it is #1 here in New Hampshire what with 31 large locations plus an enormous distribution center in Raymond NH with lots of trucks.

From a camping website, it says that Vermont has four Wal-Marts for the entire state and only the one in Barre allows overnight parking for rv's. Probably, that's because Barre is the state capital of Vermont and that's where the Vermont state reps spend the night when the legislature is in session! Price for an overnight stay at the Barre Wallyworld p-lot in your rv = zero dollars.......hoobuoy!

[Rusty]

I have no idea but probably there's plenty plenty Wal-Mart employees who qualify. I believe that 30-hours/week is the boundary number between full-time and part-time.

Wal-Mart is the largest private employer in the U.S. with over two million employees so it's very possible that it is #1 here in New Hampshire what with 31 large locations plus an enormous distribution center in Raymond NH with lots of trucks.

From a camping website, it says that Vermont has four Wal-Marts for the entire state and only the one in Barre allows overnight parking for rv's. Probably, that's because Barre is the state capital of Vermont and that's where the Vermont state reps spend the night when the legislature is in session! Price for an overnight stay at the Barre Wallyworld p-lot in your rv = zero dollars.......hoobuoy!

http://www.myemoticons.com/images/emotions/shocked/shock-5.gif Hey FLL.....I think the capital of Vermont is Montpelier.

[wifi]

http://www.myemoticons.com/images/emotions/shocked/shock-5.gif Hey FLL.....I think the capitol of Vermont is Montpelier.

It must be nice to live in dreamland all the time...

[VtSteve]

The Wal-Mart is actually in Berlin, VT, up the rut a piece from Montpelier. Montpelier, interestingly enough, is the State Capital.

It's much easier to find a Wal-Mart worker on Medicaid than one earning $14 an hour. Interestingly enough, people would be proud of Costco if they looked at their practices. Costco has stellar benefits, higher pay, higher productivity, longevity etc.. Costco leads Wal-Mart/Sams Club in just about every metric there is.

For growing GDP, employment, lowering state costs and building a strong middle class, Wal-Mart has never even been in the contest. I once thought that China formed Wal-Mart to destroy us from within :laugh:

[wifi]

.....I once thought that China formed Wal-Mart to destroy us from within :laugh:

Walmart has FLL to destroy us (and our values) from within :laugh:

[BroadHopper]

I know a number of folks that on welfare, medicaid etc. that works retail such as Wal-mart. Retail will allow folks extended leave when they hit the maximum wage allowed for them to stay on the program. This practice is a big loophole in the law. Congress should close this practice.

That list of the top employers in the state is pretty misleading. According to NH Business magazine, the top employer is the state govt. follow by BAE Systems and PSNH. I will try to find the statistic.

Rusty, I wish Wells Fargo managed my 401K like you manged your stocks. I have lost 60% of my savings since 2008.

I wish I had optimistic figures to change my mind about the economy. I just don't see any except for Taiwan stocks like HTC, which gone up over 1000%.

The Chinese Minister of banking in an article in the Forbes magazine says the only thing US has left to go on is intellectual property. Unless we start producing quality engineers and retain them, we will end up broke. The trouble is, we have 10 lawyers for every engineer. Not a good future.

[Belmont Resident]

Still loosing jobs and will continue to do so as manufacturing moves out of this area.
Aavid Thermology used to be one of the biggest employers in this area and continues to take its jobs out of the country as do other companies in this area.
This is why places like the Vineyards and the Oasis will continue to fail in this area.
Tourism sustains the area during the summer with very little to sustain the local economy during the off season.
More and more families continue to move out of this area and you continue to see more and more for rent signs for longer and longer periods. The sad part is that landlords have to take what they can get for tenants and lower rents just to make ends meet.
All the while crime and vandalism continue to go up in the area.
Unfortunately this has been going on for the last 6-8 years, long before this recession started.

[Dave R]

I live in NH and work in Westford, MA. My department has two job openings. They'd prefer to hire from within the company, but it does not look promising as there are apparently 28 other job openings under my VP. These are all telecom engineering jobs. For the two in my department, DWDM experience would be a huge plus. PM me if you think you're qualified and are looking for a job.

[CateP]

I am one of those lucky telecommuters who is coming to the lakes region with my job in tow. (Occasional trips to Waltham, MA). I plan on supporting the local economy as much as I can. My partner is coming to region without a job and is nervous about finding one. She is currently a restaurant manager, but prefers working in grocery store management. She was a food and beverage manager at Bally's casino in Atlantic City and enjoyed that work too. Do you think my partner will be able to find year-round work in the area?

[gf2020]

It would appear that others would have a different opinion of who are the 50 largest employers in NH.

Here's a link to a list that seems to contradict Walmart being the largest employer in NH.

http://www.acinet.org/oview6.asp?soccode=&id=&nodeid=12&stfips=33&from=State

Not that I am an expert on these things, but it looks like there may some others in contention.:confused:



I'm not sure where those numbers are coming from but they do not appear to be entirely accurate.

Fidelity Investments, for example, has over 5000 people working in NH.

Catholic Medical Center shows up on the list twice.

Liberty Mutual has well over the 1200 people listed at their Portsmouth and Dover locations.

[RailroadJoe]

How about Health & Human Resources in Concord. Or NH DOT, they are all over the state. Seems like the state of NH is the largest employee.

[Lakesrider]

I still think if a company in the US takes it's jobs abroad it should not be allowed to do business in the USA. It should not be allowed to trade in the US either. Take your company, go away, and stay away. I guess I have a take that job and shove it attitude.:(

[Rusty]

The stock market looks good today and that is the most important thing to me:

http://data.moneycentral.msn.com/scripts/chrtsrv.dll?Symbol=$INDU&width=300&height=200&E1=0&D4=1&Legend=0&AF=2&Banner=5&palette=2&C1=3&E8=1

[Steveo]

It would appear that others would have a different opinion of who are the 50 largest employers in NH.

Here's a link to a list that seems to contradict Walmart being the largest employer in NH.

http://www.acinet.org/oview6.asp?soccode=&id=&nodeid=12&stfips=33&from=State

Not that I am an expert on these things, but it looks like there may some others in contention.:confused:


Hard to believe that Loudon Speedway employs 1200 people. Where are they all. Must take in consideration the part time help during races?

[ITD]

I live in NH and work in Westford, MA. My department has two job openings. They'd prefer to hire from within the company, but it does not look promising as there are apparently 28 other job openings under my VP. These are all telecom engineering jobs. For the two in my department, DWDM experience would be a huge plus. PM me if you think you're qualified and are looking for a job.

Ahhh, Dense Wavelength Division Multiplexers..........

[NoRegrets]

I'm not sure where those numbers are coming from but they do not appear to be entirely accurate.

Fidelity Investments, for example, has over 5000 people working in NH.

Catholic Medical Center shows up on the list twice.

Liberty Mutual has well over the 1200 people listed at their Portsmouth and Dover locations.

I wonder it Fidelity and Liberty Mutual numbers seem low is because there is a large presence of foriegn technology consultants that do not show as employees? The numbers also seem to not list federal or state employment.

[Dave R]

Ahhh, Dense Wavelength Division Multiplexers..........

I really enjoy working with the technology. I've been involved with it since it's infancy in the mid-90s. It's come a long way from the 8, 2.5G channels we were so thrilled about way back when. We can support 128, 100G channels now. 100G channels are really cool because (aside from the absurd bandwidth) they require no chromatic dispersion compensation and are unaffected by polarization mode dispersion (they operate with two different QPSK signals on the two polarization modes). 100G uses coherent receivers (basically a heterodyne receiver at light frequncy with an analog electronic output) and the 100G data speed is just the tip of the iceberg. The market for this technology is being driven by all the smart phones in use and it's growing like crazy right now.

Know anyone that needs a job?

[ITD]

I really enjoy working with the technology. I've been involved with it since it's infancy in the mid-90s. It's come a long way from the 8, 2.5G channels we were so thrilled about way back when. We can support 128, 100G channels now. 100G channels are really cool because (aside from the absurd bandwidth) they require no chromatic dispersion compensation and are unaffected by polarization mode dispersion (they operate with two different QPSK signals on the two polarization modes). 100G uses coherent receivers (basically a heterodyne receiver at light frequncy with an analog electronic output) and the 100G data speed is just the tip of the iceberg. The market for this technology is being driven by all the smart phones in use and it's growing like crazy right now.

Know anyone that needs a job?

Are you using them or making them??

[This'nThat]

I live in NH and work in Westford, MA. My department has two job openings. They'd prefer to hire from within the company, but it does not look promising as there are apparently 28 other job openings under my VP. These are all telecom engineering jobs. For the two in my department, DWDM experience would be a huge plus. PM me if you think you're qualified and are looking for a job.
Your response lends credence to the reports of an improving economy, even though your specific jobs are in MA. And here's (http://www.boston.com/business/ticker/2011/01/local_employers.html?p1=Local_Links)yet another indication that jobs are coming back, reported today by Eastern Benefits Group: Roughly 25 percent of local human resource executives said their companies will add more full-time employees in 2011. Only 8 percent of human resource executives surveyed said they expect a decline in hiring in 2011.

[VtSteve]

The recovery is real. After the second worst recession ever, jobs always trail the overall economy. States are hurting big time, so that will take time to recover from.

The tech industry is a great field to be in now, growing by leaps and bounds. Apple and IBM reported unbelievable earnings, while those that assemble boxes, not so much. But still, the consumer economy is thriving. The lower middle class and lower income earners are always the hardest hit, and the last to recover in markets like this. If you manage money for wealthy people, life is good. Real estate is a great market to dabble in from here on out, start at the beginning.

Obviously, many are still out of work, and it's straining the overall economy, and state's budgets as well. I anticipate that things will begin improving this summer for a more widespread audience. Hopefully, jobs will follow. The housing markets are still a major drag, and I hope will provide a good education for many, one that might make up for the shortfalls. The housing market has hardened up here a bit more, and should be stronger going into spring/summer.

As stated, stocks have had stellar growth for some time now. For those in bonds, it would pay to study up on the inverse relationship between yields and cost. Now if we could control school spending and federal/state programs? That would be the icing on the cake.

[Dave R]

Are you using them or making them??

The stuff is made in Italy. Used to be made in North Andover, MA. I provide technical support for it.

[This'nThat]

Just another example (http://money.cnn.com/2011/02/23/pf/taxes/state_taxes/index.htm?iid=EAL#tableTop)of how NH is positioned to come out on top when/if this recession ever ends. NH tax burden is 8%. And notably -- every state around us (VT, ME, MA, RI, NY, CT, NJ) is at least 10%. This gives NH a 2-point (or 25%) advantage over all our near-by states. Quite an advantage, I would say.

[Lucy Goose]

I still think if a company in the US takes it's jobs abroad it should not be allowed to do business in the USA. It should not be allowed to trade in the US either. Take your company, go away, and stay away. I guess I have a take that job and shove it attitude.:(

I couldn't agree more. I have been out of work for over two years due to HP and there so called "Workforce Reduction". Which basically means "We are getting rid of your whole department and sending it offshore. Thought I was going to retire with a nice 401k and a pension but guess that isn't going to happen. I can't even get a job as an admin clerk. I read this whole article on why no one will hire me, it described my situation to a tee. Between my age, being out of work for over two years because no one will hire me and because they think I must have been laid off because I was not a good worker (which is so far from the truth). Now I just applied for a waitressing job. Probably won't get that either because my experience with that is from my college years.

OH and BTW unemployment is not going down like they are claiming. It's just that no one is qualified for it any longer.

[CateP]

I couldn't agree more. I have been out of work for over two years due to HP and there so called "Workforce Reduction". Which basically means "We are getting rid of your whole department and sending it offshore. Thought I was going to retire with a nice 401k and a pension but guess that isn't going to happen. I can't even get a job as an admin clerk. I read this whole article on why no one will hire me, it described my situation to a tee. Between my age, being out of work for over two years because no one will hire me and because they think I must have been laid off because I was not a good worker (which is so far from the truth). Now I just applied for a waitressing job. Probably won't get that either because my experience with that is from my college years.

OH and BTW unemployment is not going down like they are claiming. It's just that no one is qualified for it any longer.

I have a friend who was in the same exact situation. 44 years old, 2 years unemployed, couldn't get hired for even entry level jobs in restaurants or grocery stores. She loved cooking so she catered some private parties. She put that on her resume to fill in the "damaging" employment gap and started to get responses. She took the first job she was offered-- low pay, long hours--but that was actually a blessing because she felt a LOT happier just to be working, got her "groove" back, had something else to put on her resume. She has since been offered the best position she has had in her career. So please don't lose hope. I've seen someone go from the lowest of lows to a place of happiness and hope for the future.

If there is something you like to do or if you can volunteer for something, do it and put it on your resume. It makes a big difference. PM me if you like.