© 2021 Maine Public
Play Live Radio
Next Up:
Available On Air Stations
Business and Economy

Maine Unemployment Up Slightly, But Remains Lower Than a Year Ago

The preliminary seasonally adjusted unemployment rate of 3.8 percent for August was little changed from the 3.7 percent seen in July — and slightly lower than a year ago.

“Unless there’s some kind of a shock to the system, a financial shock or a 9/11 event, I would expect unemployment to remain very low for quite some time,” says state labor economist Glenn Mills.

Mills says Maine’s demographics have a lot to do with the persistent low rate of unemployment.

“With more baby boomers aging out of the workforce than there are young people aging in, so that plays to a very tight labor market continuing for quite a number of years,” he says.

Unemployment in Maine has remained steady for almost two years now — 23 months — the second longest period in more than 40 years that the rate has been at or below 4 percent.