Hanging Tough in Nashua

We came across this story on a brand new page on our web site where people tell us how the economy is affecting them.

32-year-old Michael Chmielecki is a writer and editor for several construction trade magazines. Until a couple of weeks ago, he could afford the 750 dollars a month rent on his apartment in Nashua. But as the construction business plummeted, so did advertizing. His company cut everyone’s salary 25%. Chmielecki is now back at his parent’s house in the bedroom he grew up in.

Chmielecki: I did the math and I was like, I’m not going to be able to afford after one month to live in this apartment without killing my savings and going crazy just to make ends meet. And it’s not like I just moved in here and am living for free. I’m actually paying $600/month rent.

The rent money makes a difference. Chmielecki’s father is an engineer. He designs things like circuit boards for voice over internet equipment. He was laid off in February. Chmielecki says it’s nice but a little weird to be back home. Being an editor, he’s helping his father spruce up his resume. Both of them hope for the best.

Chmielecki: There’s only so much you can read in the paper or see on TV about how this is the worst economic meltdown since the Depression. And after a while, you either accept that and move on and try to live your life or you worry about it every day. On the whole, I feel as happy as I can be in the situation.

The national unemployment rate is now at 9.4%. The New Hampshire mortgage delinquency rate is still high but not as high as it was at the end of 2008. The state of New Hampshire has approved about 150 million dollars worth of stimulus work . Just a few numbers to go along with Chmielecki’s take on the economy.

There are other observations about these changing times on our web site. You’re invited to add your own notes about how this economy has touched your business, your organization or your household. Each note helps paint a picture of what’s going on.

With this weekly economic round-up, I’m Jon Greenberg.