Overall unemployment rate moved up to 2.9% with the biggest shift in Restaurants & Hotels, which lost 1,800 roles, based on the most recently available information published in December 2022.
Total employment in the Portland-South Portland, ME market rose by 951 jobs in October and the unemployment rate increased compared to the prior month by 10 bps to 2.9%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Portland-South Portland, ME unemployment rate is 50 bps below the national rate which is a positive sign.
- Unemployment in the market is 50 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 4.9% and are up 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: 43,200; +400
- Transportation & Utilities: 38,500; +500
- Business Services: 34,300; +800
- Restaurants & Hotels: 25,200; -1,800
- Government: 23,700; +800
- Financial Services: 17,200; +200
- Manufacturing: 16,200; +100
- Construction, Mining: 11,100; -100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.