Overall unemployment rate moved down to 3.3% with the biggest shift in Business Services, which lost 800 roles, based on the most recently available information published in April 2022.
Total employment in the Portland-South Portland, ME market rose by 2,403 jobs in February and the unemployment rate decreased compared to the prior month by 30 bps to 3.3%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Portland-South Portland, ME unemployment rate is 84 bps below the national rate which is a positive sign.
- Unemployment in the market is 170 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 5.8% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:
- Education & Healthcare: 42,600; +700
- Transportation & Utilities: 37,600; no change
- Business Services: 28,700; -800
- Government: 23,000; +600
- Restaurants & Hotels: 16,800; +400
- Financial Services: 16,800; +100
- Manufacturing: 15,600; +200
- Construction, Mining: 10,100; -200
- Other Jobs: 7,500; -100
- IT & Development: 3,100; no change
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.