Overall unemployment rate moved down to 1.7% with the biggest shift in Government, which lost 900 roles, based on the most recently available information published in August 2022.
Total employment in the Portsmouth, NH-ME market rose by 775 jobs in July and the unemployment rate decreased compared to the prior month by 10 bps to 1.7%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Portsmouth, NH-ME unemployment rate is 208 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 July versus prior month by 2.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.5% . Key sectors include:
- Transportation & Utilities: 16,400; +300
- Business Services: 15,000; +200
- Government: 13,600; -900
- Restaurants & Hotels: 13,300; +600
- Education & Healthcare: 13,000; +300
- Manufacturing: 9,500; no change
- Financial Services: 5,300; no change
- Construction, Mining: 3,100; no change
- Other Jobs: 3,100; +100
- IT & Development: 1,800; -100
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.