Overall unemployment rate moved down to 2.9% with the biggest shift in Restaurants & Hotels, which lost 2,600 roles, based on the most recently available information published in January 2022.
Total employment in the Portland-South Portland, ME market declined by 621 jobs in November and the unemployment rate decreased compared to the prior month by 10 bps to 2.9%. The national unemployment rate decreased by 4 bps over the same time to 3.4%.
- Portland-South Portland, ME unemployment rate is 46 bps below the national rate which is a positive sign.
- Unemployment in the market is 40 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in November versus prior month by 5% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.2%. Key sectors include:
- Education & Healthcare: 43,600; +400
- Transportation & Utilities: 39,000; +500
- Business Services: 35,500; +1,200
- Government: 23,800; +200
- Restaurants & Hotels: 22,100; -2,600
- Financial Services: 17,100; -100
- Manufacturing: 16,300; +100
Data is based on the most recent 12 months available, through November 2022 (Data published January 2022 and reports created on January 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.