New Hampshire Unemployment Leveling Off, Still Abnormally High

CONCORD, NH — The latest unemployment figures released Thursday show new unemployment claims leveling off in the Granite State but they are still abnormally high due to the new coronavirus pandemic.

The state of New Hampshire reported 6,055 new claims for benefits, according to the U.S. Department of Labor, for the week ending June 6. Last week's claims were also revised up slightly to 6,127. The last few weeks of data show a downward trend that has been leveling off to between 6,000 and 9,000 claims for the past month.

New Hampshire Employment Security said Thursday that for more than two months, unemployment claims have been dropping. While the state saw lower claims, 25 other states saw rising claims, the report stated.

"Beginning with this Covid-19 Unemployment Update, our weekly release will begin placing more emphasis on continuing claims for unemployment," the state reported. "Even as new claims for unemployment are filed in the state, albeit at sharply lower rates, more individuals are returning to work as pandemic-required restrictions are eased or removed and as more businesses re-open. As the process of re-opening progresses, the number of 'continuing claims' by individuals who remain unemployed on a weekly basis becomes a better barometer of the status of New Hampshire's labor market, communities, and industries."

For the week ending May 30, continuing claims in New Hampshire were at 102,030 or about 13 percent less than the peak number of continued claims, nearly 117,000, on May 2.

Employment Security also reported that as of the end of May, about 22,500 businesses in the state with payroll had received more than $2.5 billion in loans to keep employees paid.

"Some of these businesses may have initially furloughed workers only to later recall them as PPP loans were approved and funded," the said said. "PPP loans are likely one reason for the large discrepancy between initial and continued claims in the state."

Nationally, jobless claims had the 44 million mark with after 1.5 million more people sought benefits.

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