Friday, July 21, 2017

New Hampshire’s Labor Crunch

As any business owner who is looking to hire more employees knows, it’s a tough market now to attract qualified applicants. And it’s been that way for nearly 2 years since New Hampshire’s unemployment rate has been at 3 percent or lower since November 2015. As an economist with the state Economic and Labor Market Information Bureau said, “Normally, it’s a great thing to have low unemployment, but you can argue it’s a problem not to attract enough labor.” 

Many employers are having to get creative and boost their benefits packages to attract and retain employees. Some of the perks include more paid holidays and/or vacation days, 100 percent payment on health insurance premiums, contributing to retirement plans, tuition reimbursement or school scholarships, bonuses, flexible schedules and catered lunches. 

This ‘economic heat wave’ has a ripple effect over many industries and can be seen all over the state’s economy. Read the full article from NH Business Review.

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