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January 27, 2009

Maine's unemployment rate hits 7%

By The Mainebiz News Staff

The Maine Department of Labor this morning said that Maine's unemployment rate increased to 7% in December, up from 6.3% in November and 4.9% in December 2007.

Maine's nonfarm wage and salary employment fell by 3,400 between November and December, with the most substantial declines reported by in the retail and construction industries. Over the entire year, employment dropped by 11,700.

Maine's rising unemployment rate has mirrored the national average, which was 7.2% in December, an increase from 6.8% in November and 4.9% in December 2007. "The deepening national recession made December a very difficult month for Maine workers and employers," State Labor Commissioner Laura Fortman said in a press release.

Highlighting a bright spot, Fortman said that unlike many states that are faced with cutting unemployment benefits or increasing employer taxes to deal with the rising jobless rate, Maine has adequate funding to continue paying unemployment benefits to laid-off workers. Maine's Unemployment Trust Fund is ranked sixth in the nation for its ability to pay benefits in the months ahead, according to the Maine DOL.

 

Reader comments

From Scott

Laura Fortman should higlight the one bright spot for the rising unemployment rate. She mentioned that Maine is 6th in the country with respect to our funding of Unemployment, which will allow Maine to pay unemployment to laid off workers for some time to come. Well the reason is because we are one of the highest taxed states in the Union, not to sound bitter, but if the State would concentrate on how to be proactive in getting people back to work through investment, tax cuts, and seeking alternative energy solutions, we just might be able to come out the other end.  

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