Maine’s unemployment falls to lowest rate in 40 years

By April 21, 2017Uncategorized

Maine’s preliminary unemployment rate hit a 40-year low of 3.0 percent in March, driven in part by high job gains in construction, transportation, education and healthcare – and an aging population.

“The economic recovery is finally washing across Maine’s shores,” said Michael Donihue, an economics professor at Colby College. “Labor markets are really tight. The thing to watch for next is what happens to wages.”

March’s preliminary seasonally adjusted unemployment rate was down from 3.2 percent in February and 3.7 percent a year ago. The March rate in Maine compares to a national unemployment rate of 4.5 percent last month.

Arkansas, Colorado and Oregon also reported their lowest unemployment rates since the current methodology was implemented in 1976. Colorado’s rate, at 2.6 percent, was the nation’s lowest.

Read more at the Portland Press Herald….

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