Maine unemployment remains at record low
Neither rain, nor high interest rates, nor larger numbers of Mainers returning to the workforce keptMaine's unemployment ratefrom rising above 2.4 percent in July. It was the fourth straight month that the jobless rate remained at that record-low number.
There were just over 643,000 non-farm jobs in the state last month. That number was down slightly from June, but only after the June estimates had been revised upward
The labor force participation rate rose slightly, but there were enough jobs in the state to keep the unemployment rate from rising.
Rain fell on many days in July, which may explain the decline in hospitality and construction jobs last month, but the Maine Department of Labor says, in a release, it's not yet clear how much rain might have affected the employment picture.
The Federal Reserve's moves to raise interest rates could raise the cost of doing business and force employers to reduce staff, but there's no sign of that in Maine's unemployment numbers.