Overall unemployment rate moved up to 2.5% with the biggest shift in Restaurants & Hotels, which lost 700 roles, based on the most recently available information published in December 2022.
Total employment in the Portsmouth, NH-ME market declined by 239 jobs in October and the unemployment rate increased compared to the prior month by 30 bps to 2.5%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Portsmouth, NH-ME unemployment rate is 90 bps below the national rate which is a positive sign.
- Unemployment in the market is 10 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in October versus prior month by 4.3% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.3%. Key sectors include:
- Transportation & Utilities: 15,800; -100
- Business Services: 15,100; +300
- Government: 15,100; +100
- Education & Healthcare: 13,000; +200
- Restaurants & Hotels: 11,100; -700
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.