According to data from the Bureau of Labor Statistics, Southern New Hampshire has led New England in average economic growth over the last several years. While national growth has struggled to reach three percent, the Portsmouth, and Seacoast New Hampshire areas have enjoyed anywhere from seven percent growth to ten percent growth; good news for employers and job seekers looking towards the future.
Where the Jobs Are In Southern New Hampshire
Hiring has heated up in the services sector over the last five years, with nearly 30 percent of all new jobs falling into this category. Strong growth in business services has historically been an indicator of a strong business climate, as support services staff are required to keep pace with an increase in demand.
It is worth noting that two other years stand out for this same boom in light industrial and business services employment. In both 1997 and 2004, this sector grew rapidly and in the three years following, the city enjoyed a strong economy. Consumer confidence is also on the rise, which means more people are spending money on “luxuries” like hotels, restaurants and non essential clothing purchases, indicating that people in the region have more money in their pockets to spend.
That increase in spending has also led to an increase in hiring in light industrial, restaurants, hospitality and retail; as well as the businesses that support these sectors. Additionally, temporary hiring has increased over the last several years as companies attempt to keep pace with demand for their products and services.
While slow national economic growth has caused some concern, the Seacoast area has outpaced the national average. While the growth is promising, it is worth noting that it has been slow, steady and cautious. That is good news for employers and employees. Rapid growth is often unsustainable, while slow and steady growth can keep employment and productivity numbers level for some time.
Connecting the Right People With the Best Jobs In The Tri-City Area
This continued growth depends on a number of factors, not the least of which is connecting great companies with qualified candidates. In today’s competitive market, that is often much easier said than done. If you are a job seeker in the Seacoast New Hampshire area, including Portsmouth, Rochester, Dover, and Somersworth looking for new challenges, or if you are a business looking to connect with talented full-time, part-time, or temporary candidates, Bonney Staffing Center is here to help. We work tirelessly to make successful matches that ensure positive outcomes for both our talent and our clients. Contact us today to see how we can help you ride Portsmouth’s positive economic wave.