Maine Unemployment Rate holds steady at 5.5%

THE BLS released the state employment data for July, revealing that Maine’s unemployment rate held steady at 5.5%, down 1.2% points from one year ago.  From the CWRI:

Household Survey Estimates The preliminary seasonally adjusted unemployment rate of 5.5 percent for July was unchanged from June and down from 6.7 percent one year ago. The number of unemployed declined 8,700 over the year to 38,800.

The employment to population ratio was estimated at 61.4 percent, above the U.S. average (59.0 percent) for the 82nd consecutive month.

The U.S. unemployment rate estimate was 6.2 percent, little changed from 6.1 percent in June and down from 7.4 percent one year ago. The New England unemployment rate averaged 5.8 percent. Rates for other states were 4.4 percent in New Hampshire, 3.7 percent in Vermont, 5.6 percent in Massachusetts, 7.7 percent in Rhode Island, and 6.6 percent in Connecticut.

Labor force and unemployment data is available here.

Payroll Survey Estimates – The preliminary nonfarm payroll jobs estimate for July of 610,100 is up 7,100 from one year ago. Private sector jobs were up 8,400, primarily in the leisure and hospitality, professional and business services, education and healthcare, and construction sectors. Those gains were partially offset by a decline of 1,300 government jobs. Government accounted for 16.3 percent of nonfarm jobs in June and July, its lowest share since May 1999.

Nonfarm payroll jobs data is available here.

Not Seasonally Adjusted Substate Data

The not seasonally adjusted statewide unemployment rate was 5.2 percent in July, down from 6.3 percent one year ago. Not seasonally adjusted rates ranged from 4.1 percent in Cumberland County to 8.0 percent in Washington County. Rates tended to be lower than the statewide average in southern and central counties and higher than average in northern and rim counties.

Among metro areas the unemployment rate was below the statewide average in Portland-South Portland-Biddeford (4.1 percent) and close to the average in Lewiston-Auburn (5.1 percent) and Bangor (5.4 percent).

John Haskell

About John Haskell

John graduated from the University of Southern Maine with a degree in Political Science, and from the University of Maine School of Law. He has worked in both the public and private sectors, and currently, works with a small business services company in the Mid-Coast area.