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. What's more, the state reinstated the New Hampshire Job Training Fund in 2007, partnering with companies to train more than 8,000 workers in new skills.
In his inaugural address last week, New Hampshire Gov. John Lynch noted that, "The Federal Reserve Bank says New Hampshire had the fastest economic growth of any state in the nation in the past year, and predicts we will lead the country in economic growth in the coming year. The National Journal calls New Hampshire the highest-performing economy in the nation."
Hats off to you, New Hampshire. Brace yourselves for an influx of unemployed out-of-staters.