But will inflationary pressures end the trend?
Bankruptcy filings in New Hampshire appear to have stalled over the summer after falling to record lows during the pandemic. The question is if this is a temporary pause or if they will go back up.
Summer brought high inflation, particularly when it comes to the price of necessities that could push people over the edge. On the other hand, the unemployment rate remains at a record low of 2 percent and wages are rising (4.2 percent in July), although not as much as inflation (7.3 percent in July).
There were some 62 bankruptcy filings in August: nine more than July, 10 more than June, and two fewer than August 2021.
The state is still on track for a record year. So far this year, submissions are averaging 53 per month. Last year, the average was 61. To put that in perspective, there were about 447 bankruptcy filings in August 2009 in the midst of the Great Recession. The average monthly filing that year was 427.
While there were no trade shows in June or July, there was one in August:
- Animetrics Inc., Conway, filed Aug. 2, Chapter 7. Assets: $780,982. Liabilities: $222,119.