Maine's low unemployment rate sank even a little lower last month
Already hovering at historically low levels, Maine's unemployment rate fell slightly in May to 3%, according to data released Tuesday by the state Department of Labor. The rate was 3.1% in April.
Meanwhile, the nationwide unemployment rate ticked up, from 3.9% in April to 4% last month. Both the state and U.S. rates are seasonally adjusted and based on preliminary data.
In Maine, the unemployment rate has now been under 4% for 30 months in a row — since December 2021 — the second-longest such streak on record, the Labor Department said in a news release.
The number of nonfarm jobs across the state totaled 656,600 in May, or just 100 more than the April sum. The number of Maine jobs has been relatively stable during 2024, the department said, and remains well above pre-pandemic levels.
Jobs increased 9,300 from a year ago, an average of 800 per month. More than half of the gain over the year has been in health care and social assistance, following a slower-than-average recovery for that sector during the first two years of the pandemic.
Using unadjusted data, the unemployment rate in Portland-South Portland was 2.2%, below the unadjusted statewide level of 2.7%. The rate was 2.6% in Bangor and 2.7% in Lewiston-Auburn.
Among Maine's 16 counties, the unadjusted rates ranged from 2.1% in Sagadahoc to 4% in Aroostook.
The private sector workweek in May averaged 33.4 hours and earnings averaged $31.42 per hour. Average hours decreased by 0.1 and hourly earnings increased 4.6% from a year ago. Earnings increases in May were led by a 7.5% gain in manufacturing.
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