AUGUSTA — Maine’s unemployment rate held steady at 3.4 percent last month. The state Department of Labor says the number of unemployed people declined by 8,000 over the year to 22,800. The unemployment rate was 4.5 percent a year ago. Maine’s unemployment rate was less than the U.S. rate of 5 percent, which also held […]
economy
Posted inMaine
LePage asks Legislature when it is going to ‘wake up’ on paper industry woes
AUGUSTA — In a pair of blistering missives to State House leaders Tuesday, Republican Gov. Paul LePage charged lawmakers with doing little to help the state’s sagging pulp and paper industry and asked when the Legislature is going to “wake up.” He also labeled Democratic lawmakers as “job killers” and accused them of misleading the […]
advertisement
Posted inOp-Eds
Conflicting opinions about recession remain
WASHINGTON — It’s economists versus the stock market. Economists generally don’t forecast a recession anytime soon. The stock market does — or at least that’s one plausible interpretation of its recent roller-coaster behavior. Who’s right? We’ll know in a few months. Meanwhile, the dispute highlights the incomplete nature of the present recovery, which has lasted […]
Posted inBusiness, sj-web
U.S. economy adds 211,000 jobs
Data curated by CareerTrends The Labor Department said Friday that employers added 211,000 jobs, led by big gains in construction and retail. And the government revised up its estimated job growth for September and October by a combined 35,000. The unemployment rate remained a low 5 percent for a second straight month. More Americans began […]
Posted inBusiness, sj-web
Maine households increase spending in 2014
PORTLAND — A federal agency report shows that Maine residents spent 3.5 percent more per person on household expenditures in 2014 than they did in 2013. The Portland Press Herald reports a federal Bureau of Economic Analysis report released Tuesday shows residents spent roughly $1,400 more per person last year on necessities compared to the […]
Posted inMaine
In Lewiston, Paul LePage upbraids Legislature, vows to fight status quo
LEWISTON — During an hourlong town hall meeting Tuesday, Maine’s Republican Gov. Paul LePage continued his campaign against the state’s Legislature and its leaders, again promising to push the powers of the executive branch of government to achieve his policy goals. Before a largely friendly audience of about 100 people, LePage spoke at the Green […]
Posted inBusiness
Maine DECD says it will consider starting state-run EB-5 program
LEWISTON — The state of Maine may start its own visa program to help bring more direct foreign investment here, according to Maine Department of Economic and Community Development Commissioner George Gervais. The state is looking at establishing a state-run EB-5 regional center, Gervais said. EB-5 visas provide foreign nationals with a way of obtaining green […]
Posted inBusiness
Maine economic growth mostly flat, says federal report
PORTLAND — Maine’s total economic output largely was flat from 2013 to 2014, rising an estimated 0.2 percent, behind national and regional output growth over that time. Preliminary estimates from the U.S. Bureau of Economic Analysis found the change in Maine driven by an increase in output from health care, social assistance and management sectors. […]
Posted inMaine
Democrats on Maine taxation committee reject LePage referendum bill
AUGUSTA — On a mostly party-line vote, a legislative committee Wednesday rejected a proposal by Republican Gov. Paul LePage that would ask Maine voters to repeal the state’s income tax by 2020. The proposal seeks to put a ballot question before voters in November that would amend the state’s constitution to prohibit a state income […]
Posted inLewiston-Auburn
Report: Maine 12th most eco-friendly state
Maine ranks 12th in the nation for being an eco-friendly state, according to a Wallet Hub report. With billions of taxpayer dollars devoted to environmental protection and energy costs eating a significant portion of the average household’s income, WalletHub released its report Monday showcasing areas doing right and not so much right by Mother Earth. […]