Gross Domestic Product
Real GDP (a measure of economic growth) has increased from $50,000 since 2009 to reach a high of $52.8 billion in 2018.
From 2017 to 2018, Maine’s private sector added approximately 5,000 jobs.
Overall, Maine’s private-sector employers have added around 40,000 jobs since February 2010, the national low point for private-sector employment. Average private sector wages have increased since 2009 from around $19/hr to $23.75/hr in 2018.
Manufacturing employment has been declining since at least 2000 but steadied since 2010 at 55,000 total jobs. Manufacturing wages for production employees have been increasing and now average around $22.5/hr in 2018, up from around $20/hr in 2010.
Total Transportation and Warehousing employment has recovered from its recession low of 15,000 jobs and is now at pre-recession levels of 17,250 jobs. Average hourly earnings in this sector have been increasing since 2008 and average $20/hr.
The unemployment rate in Maine was 2.7% percent in 2018, down 0.5 percentage points from July. The rate is below its peak of 8.4% in March 2010 and below the national rate of 3.9%.
The House Price Index, a measure of the cost of housing, a measure of the cost of housing, in Maine declined from 2008 to 2014, but has been increasing since then to a high of 530, showing an increase in house prices.