Overall unemployment rate moved down to 2.2% with the biggest shift in Transportation & Utilities, which lost 1,300 roles, based on the most recently available information published in March 2023.
Total employment in the Portland-South Portland, ME market declined by 1,234 jobs in January and the unemployment rate decreased compared to the prior month by 50 bps to 2.2%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Portland-South Portland, ME unemployment rate is 166 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 January versus prior month by 4.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.4%. Key sectors include:
- Education & Healthcare: 43,500; -900
- Transportation & Utilities: 38,200; -1,300
- Business Services: 31,600; -700
- Government: 23,200; -400
- Restaurants & Hotels: 18,100; -700
- Financial Services: 16,800; -200
- Manufacturing: 15,500; -100
- Construction, Mining: 10,400; -700
- Other Jobs: 7,600; -100
- IT & Development: 3,300; -100
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.