Maine unemployment back to record low in March
Photo / Renee Cordes
Help Wanted signs are common at retailers statewide, including this grocery store in South Portland.
Maine's seasonally adjusted unemployment rate edged back to a record low of 2.6% in March from 2.8% in February, according to the latest monthly barometer from the state's Department of Labor.
That puts Maine back at a record low, matching the rate in May and June 2022.
Total non-farm wage and salary jobs were little changed at 645,700, a decrease of 600 jobs from the revised February estimate. The change in jobs was small in nearly all sectors except for manufacturing, which saw a decrease of 500 jobs and remained close to the 14-year high reached in February.
In the first three months of the year, the number of jobs increased by an average of 600 per month over the preceding three-month period, from October through December. Private-sector jobs were 1.9% higher and government jobs were 0.9% lower, mostly in public higher education.
Among Maine's three metropolitan areas, unemployment was below the statewide average in Portland-South Portland at 2.3% and close to the average in Bangor (2.6%) and Lewiston-Auburn (2.9%).
Across the state's 16 counties, unemployment rates were lowest in Cumberland and Sagadahoc counties (2.3% in each) and highest in Somerset County, at 4.8%.
The latest Maine Department of Labor report also showed that the private-sector work week averaged 33.4 hours and earnings averaged $29.66 an hour in March. Hourly earnings increased 4.1% from a year earlier, led by a 7.7% gain in manufacturing.
The work week was longest in manufacturing and shortest in leisure and hospitality, which also had the lowest earnings. Earnings were highest in professional and business services. In the three metropolitan areas, hourly earnings surpassed the statewide average in Portland-South Portland and lower in Bangor and Lewiston-Auburn.
Find the latest press release from the Maine Department of Labor here. April data is scheduled to be released on May 19.
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