Skip to main content

Employment Trends in New Hampshire: A Deep Dive into the 2024 Job Market

Employment Trends in New Hampshire: A Deep Dive into the 2024 Job Market

According to the U.S. Bureau of Labor Statistics (BLS), New Hampshire had 749,700 employees in May 2024. The state’s unemployment rate was 2.5%.

Among the main industries in New Hampshire in May 2024 and their 12-month percent changes were:

  • Professional: 99,800 employees, 1.4%
  • Manufacturing: 69,600 employees, -1.8%
  • Finance and accounting: 34,500 employees, 0.6%
  • Information technology: 11,200 employees, -5.9%

2024 Employment Trends in New Hampshire

The May 2024 New Hampshire Employment Report published by the United States Congress Joint Economic Committee stated that:

  • New Hampshire added 2,200 net payroll jobs.
  • Over the past 12 months, New Hampshire added 10,400 net payroll jobs.
  • New Hampshire’s unemployment rate was down one-tenth of a percentage point.
  • The state’s unemployment rate increased by seven-tenths of a percentage point over the past 12 months.
  • New Hampshire’s labor force participation rate increased to 65.6%.
  • The state’s labor force participation rate was tied for 11th in the country.

2024 Jobs Report for New Hampshire

The January 2024 Jobs Report by Get.It found steady growth across sectors in New Hampshire:

  • Job growth: New Hampshire exceeded estimates by adding 2,900 jobs, marking the 18th consecutive month of employment gains.
  • Low unemployment: The state’s unemployment rate of 2.8% was lower than the national average of 3.4%.
  • Broad-based gains: New Hampshire job increases across many sectors indicated a healthy, diverse economy.

Industry and occupational growth

Professional and business services in New Hampshire drove job growth. Many positions in management, technology, and finance were added.

The state’s manufacturing industry saw moderate growth. Durable goods production had the most noticeable growth.

New Hampshire added 12,000 jobs, a 2.4% increase compared to the previous 12 months. This growth outpaced the national average of 1.8%

Future outlook

New Hampshire’s current trends and national forecasts support a healthy outlook for the 2024 job market. However, rising interest rates and inflation could cause potential challenges with economic growth and impact hiring in certain sectors.

Growing occupations

New Hampshire’s growing occupations include:

  • Software developer
  • Customer service representative
  • Marketing specialist
  • Sales representative
  • Financial analyst

Get Help with Hiring

Partner with Techneeds for help adding qualified members to your team. Contact us to get started today.