Yes, it is considered processed. A hint on that is the pink cured color of the ham that is the reaction of heat on the nitrites/nitrates added. However, don't assume just because you're cutting out processed meats, you're cutting out nitrites. MANY of the things you eat naturally have nitrites and nitrates. Based on the average consumption of processed meats, you will actually swallow more nitrites/nitrates in your spit than you will get from processed meats. Nitrites/nitrates are actually necessary for proper cardiac muscle function and are also thought to naturally fend off bad bacteria in the GI tract.
Veggies like celery, spinach, carrots, beets, broccoli, etc. all have their own natural levels and in naturally or organically cured meats you'll commonly find vegetable juice added to cure the meat. The scary thing about this is the amount of nitrate added to natural and organic products is not yet regulated by the government, whereas conventionally cured products are very strictly regulated. The legal levels added to conventionally cured products are such that when the meat is cooked, there are very very low residual nitrite levels.
Most importantly though, PLEASE if you're pregnant, under no circumstances eat deli meats. Listeria monocytogenes is the main bacteria of concern in deli meats and causes listeriosis which pregnant women are 20 times more likely to get. If you get listeriosis while you're pregnant, you can cause a spontaneous abortion, still birth, or premature delivery. PLEASE don't eat deli meats!