June 20, 2008
Maine unemployment spikes
Maine's preliminary, seasonally-adjusted unemployment rate was 5.4% in May, a sharp increase from the 4.7% rate in April.
State Labor Commissioner Laura Fortman said in a press release that the increase represented an unusually large monthly shift in the unemployment rate and that additional months of data will be needed to see if the higher rate is sustained. She said several factors impact the unemployment rate from month to month, from the underlying state of the economy, the timing of the reference weeks used to estimate the jobless rate and school schedules. Maine's jobless rate in May 2007 was 4.7%.
The adjusted national jobless rate for May was 5.5%, up from 5% for April and 4.5% for May 2007.
State Labor Commissioner Laura Fortman said in a press release that the increase represented an unusually large monthly shift in the unemployment rate and that additional months of data will be needed to see if the higher rate is sustained. She said several factors impact the unemployment rate from month to month, from the underlying state of the economy, the timing of the reference weeks used to estimate the jobless rate and school schedules. Maine's jobless rate in May 2007 was 4.7%.
The adjusted national jobless rate for May was 5.5%, up from 5% for April and 4.5% for May 2007.
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