Everything from housing and industry booms to fewer job-seekers and the state’s status as the oldest in the nation has contributed to a run of low jobless rates, experts say.
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Job openings in Maine are dropping, signaling return to ‘normalcy’
But experts say the trend could be short-lived.
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Posted inBusiness, Local & State, News
Unemployment rises slightly in Maine urban zones
That tracks with a slight increase in unemployment statewide, which rose from 2.6% in September to 2.9% in October.
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Maine’s civilian workforce returns to pre-pandemic size
Maine also filled 9,300 nonfarm jobs from May 2023 to May 2024, in large part thanks to gains in Maine’s health care and social assistance sector.
Posted inLocal & State
Maine unemployment rate holds steady in April
The preliminary rate for last month is 3.1%, down slightly from March, the Maine Department of Labor reports.
Posted inBusiness, Local & State
Economist sees solid growth ahead, but warns of looming overseas threats, historic federal debt
Commercial real estate vacancies remain high as employees choose to work from home, and leases and mortgages face renewal at higher interest rates, a TD Bank economist said Thursday.
Posted inBusiness
Maine unemployment rate increases for 5th straight month but remains historically low
The rate of 3.2% in December was the highest it has been in 22 months, according to state data, but is still below the national rate.
Posted inBusiness, Nation & World, News
Congressional Budget Office projects lower inflation, higher unemployment over next 2 years
The office’s Current View of the Economy from 2023 to 2025 report estimates that the unemployment rate will rise to 4.4% by the end of 2024.
Posted inBusiness, Local & State, News
Maine could end 2023 with the lowest annual unemployment rate in its history
Many economic challenges remain, however, including a statewide housing crisis, increased homelessness, inflation, higher costs of living and an ongoing workforce shortage.
Posted inBusiness
Maine unemployment ticks up in September, but still near record low
September’s jobless rate of 2.7% is a slight increase over August’s 2.5 %.