Overall unemployment rate moved down to 3.4% with the biggest shift in Business Services, which lost 700 roles, based on the most recently available information published in February 2022.
Total employment in the Portland-South Portland, ME market declined by 4,875 jobs in December and the unemployment rate decreased compared to the prior month by 30 bps to 3.4%. The national unemployment rate decreased by 20 bps over the same time to 3.7%.
- Portland-South Portland, ME unemployment rate is 29 bps below the national rate which is a positive sign.
- Unemployment in the market is 140 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in December versus prior month by 6.4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.6%. Key sectors include:
- Education & Healthcare: 42,500; -300
- Transportation & Utilities: 38,900; +700
- Business Services: 30,400; -700
- Government: 23,200; -300
- Financial Services: 16,500; -100
- Restaurants & Hotels: 16,200; -400
- Manufacturing: 15,200; no change
- Construction, Mining: 10,300; -200
- Other Jobs: 7,800; no change
- IT & Development: 3,000; no change
Data is based on the most recent 12 months available, through December 2021 (Data published February 2022 and reports created on February 4, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.