Statistics released recently by the state and the N.H. Fiscal Policy Institute indicate economic challenges ahead for the Granite State.

Unemployment, while still low, has increased.

New Hampshire’s population remains one of the oldest in the nation, and deaths outpace births. That means population increases are dependent on people migrating to the state.

The NHFPI study released last week said that between 2010 and 2024, international migration added 42,200 residents to the state, while migration from other U.S. states added about 41,000.

“As the federal government attempts to limit international migration (both reducing migration into the U.S. and reducing the number of migrants already living in the U.S.) migration into New Hampshire is likely to decline,” the N.H. Employment Security said in its “Vital Signs 2025” report released last month.

The report also noted that such a decline “could have long-term consequences on New Hampshire’s labor force growth trend.”

The Trump administration has taken a number of steps to decrease immigration to the U.S. and increase deportations.

A total of 2,050 more people died than were born in the state last year, illustrating the importance of migration.

New Hampshire has a median age of 43.6, second only to Vermont, according to the nonprofit StatsAmerica.

Meanwhile, state statistics show that from June 2025 to July 2025, the total labor force decreased by 960 to 775,220. The unemployment rate last month remained low at 3.1 percent, although this was up from 2.6 percent in July 2024.

Other problems for the economy in New Hampshire, according to the NHFPI report, are housing affordability, access to childcare and inflation.

“Employment growth in New Hampshire appears to have at least stalled, and national employment growth has slowed significantly. Economic uncertainty, particularly associated with trade and immigration policies, could be giving businesses reason to pause expansion in the face of higher costs, and consumers may see more price increases for imported goods,” the report said.

“The combination of higher prices and a job market that offers fewer opportunities, particularly for increases in compensation that outpace overall inflation, could leave many Granite State families in more difficult economic circumstances.”

These articles are being shared by partners in The Granite State News Collaborative. For more information visit collaborativenh.org.