Maine unemployment rate holds at 3.2% in August
The Maine Department of Labor said the state's jobless rate has stayed between 3.1% and 3.3% for two years, while payroll jobs have hovered near 660,000 since early 2024.
Maine's unemployment rate was 3.2% in August, little changed from July, the Maine Department of Labor said in preliminary estimates released Friday.
The rate has stayed within a narrow band between 3.1% and 3.3% for 24 straight months, the department said, and has been below 4% for 56 months — the longest such stretch on record. Unemployment averaged 4.1% in both New England and the nation in August. The state's long-term average since 1976 is 5.4%.
Labor force participation averaged 58.8% over the three months through August, down from the three months through May. The department attributed the decline mainly to a falling share of the population that is working.
Nonfarm payroll jobs were also little changed from July, with stable levels in every sector, according to the department. Job estimates have remained near 660,000 for 28 consecutive months. Over the past year, gains in health care and social assistance and in retail trade were offset by modest declines across several sectors.
The private-sector workweek averaged 33.5 hours in August, and hourly earnings averaged $33.77, up 4.2% from a year earlier, the department said. Earnings were highest in professional and business services and lowest in leisure and hospitality.
Without seasonal adjustment, the statewide rate was 3.1%, with the lowest rates in coastal counties and the highest along Maine's northern rim. September estimates are due Oct. 20.
This brief was drafted by AI from a public agency press release and published by The New England Signal. Why we use AI for stories like this one.