Maine’s Economy Continues Recovery

November 21, 2014

For Immediate Release: Friday, November 21, 2014
Contact: Adrienne Bennett, Press Secretary, 207-287-2531

AUGUSTA – Governor Paul R. LePage released a statement today about the 5.8 percent unemployment rate for October, which is down from 6.6 percent a year ago and the same as September’s rate.

The employment-to-population ratio, which is the percentage of adults who are employed and is a better indicator of economic recovery, also held steady at 60.9 percent — remaining above the national average of 59.2 percent.

“Our economy is continuing to recover from the recession,” said Governor LePage. “We are working to create an economy with strong growth in both the number of jobs and the wages they pay. My administration’s priority is to create opportunity for anyone who wants a good career. We are looking at policies that attract businesses, create new, high-paying jobs and spur further growth.”

The Governor added, “We are also looking at ways in which we can grow our skilled workforce. Transitioning people from welfare to work is an important part of that. Another is engaging employers and industries with our new programs to train people for long-term careers in our growing and critical industries, including healthcare, information technology and energy.”

Private-sector payroll jobs are up 6,400 since last October. Government employment accounted for 16.3 percent of nonfarm jobs again in October. The number of unemployed people in Maine is down 5,300 over the year.

In addition, the U.S. Bureau of Economic Analysis (BEA) issued annual personal income data for counties and metro areas this week. All of Maine’s counties had positive income growth in 2012 and 2013, and the percent change in all counties was greater than the U.S. average of 1.3 percent. All three Maine metro areas had 2012–2013 percent changes above the national average of 1.1 percent. Bangor was 2.8 percent, ranked 39th; Lewiston-Auburn was 2.3 percent, ranked 64th and Portland-South Portland was 2.0 percent, ranked 88th.