Category Archives: Economic Growth

Philadelphia Fed predicts economic growth for Maine over the next 6 months

7-14 leading index

FROM the Philadelphia Fed: The Federal Reserve Bank of Philadelphia has released the leading indexes for the 50 states for July 2014. The indexes are a six-month forecast of the state coincident indexes (also released by the Bank). Forty-five state coincident indexes are projected to grow over the next six months, while five are projected […]

More Data suggesting Weakness in Maine’s Labor Market

WHILE some labor market indicators for the state continue to improve, other data points to continuing weakness in Maine’s labor market.  While the unemployment rate for the state continued to decline, and the employment-population ratio remains relatively strong, the quality of jobs being created is weak. As MECEP highlighted last month, Maine has the 5th […]

Involuntary part-time work up during the recovery

PTE 2010 to 2014

There’s been a lot of discussion, criticism, and defense to Gov. Paul LePage’s economic record thus far.  One of the larger criticisms is that while the state’s unemployment rate continues to dip, as noted by some, Maine has the 5th highest rate of involuntary part-time work. (click images to enlarge) Unsurprisingly, that rate has increased since the […]

State’s economy continues to improve, still plenty of slack in the labor market

Capture

FROM the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for June 2014. In the past month, the indexes increased in 42 states, decreased in three, and remained stable in five, for a one-month diffusion index of 78. Over the past three months, the indexes increased […]

An Oddity in the Maine Economic Recovery

fredgraph (2)

BINYAMIN Appelbaum at the New York Times has a new article arguing that measuring the recent economic recovery should focus on the number of employed rather than the unemployed.  Specifically, rather than focusing on the unemployment rate (which can be misleading since it does not count discouraged workers who give up looking for a job […]

The Maine Brain Gain?

Bach pop

THERE’S been a substantial amount of discussion about the ‘need’ to increase the number of college graduates in Maine to close the purported skills gap and boost Maine’s economy.  In short, the lack of skilled and educated labor in the state is restraining the state’s economy as job opportunities remain unfilled.  One might conclude from […]