Jobless rate dips, but future increases predicted
Maine's unemployment rate dipped to 7.9% in April from 8.1% in March, according to figures the Maine Department of Labor released today, but the numbers don't tell the whole story.
Maine's rate was significantly lower than the national unemployment rate of 8.9% in April, but discouraged job-seekers who gave up their search for work were not counted as unemployed in calculating the preliminary, seasonally-adjusted jobless rate, according to a press release from the department. Seasonally-adjusted nonfarm wage and salary employment dropped by 2,700 in April, bringing the year's total to 19,400 jobs lost. The educational and health services fields recorded some gains, the press release states.
Maine's unemployment rate will stay below the national average, but the state's jobless numbers are on the way up, according to a new forecast from the New England Economic Partnership. By mid-2010, Maine is predicted to have the second-highest unemployment rate in New England, reaching a peak of 9.7%, according to the new projections. Rhode Island is expected to top the list with a rate of 10.9% and New Hampshire has the most promising regional jobs forecast, with peak unemployment projected at 7.1%.
New England's relatively slow population growth and high education levels will keep its regional unemployment rate below the projected peak national average of 10.3%, but only modest economic improvement is expected in 2010, the group found.
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