Transcript Economic Overview AGC Maine Annual Meeting January 23, 2013

ECONOMIC AND
DEMOGRAPHIC TRENDS
IN MAINE
Regional Recovery Strategic Planning Project meeting
April 16, 2015
Amanda Rector
Maine State Economist
Governor’s Office of Policy and Management
Baby Boomers in 2032
(68-86)
Baby Boomers in 2012
(48-66)
Source: Governor’s Office of Policy and Management, Maine State and County Population Projections to 2032
Aging population
+
Slow population growth
=
Existing workforce more valuable
Source: Maine Department of Labor, Maine Workforce Outlook 2012-2022
Pre-recession peak
(2007)
Sources: U.S. Bureau of Labor Statistics and Maine Consensus Economic Forecasting Commission
Sources: U.S. Bureau of Labor Statistics and Maine Consensus Economic Forecasting Commission
Source: Maine Department of Labor, Center for Workforce Research and Information
Sources: U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, and Maine
Consensus Economic Forecasting Commission
Sources: U.S. Census Bureau and OPM calculations based on Tax Foundation methodology
OUTLOOK FOR 2015
Job growth in professional/business services and
education/health services
Energy prices
Strong summer tourism season
Keep an eye on exchange rates
CLOSING THOUGHTS
Economic conditions should continue to improve in 2015
Demographics are a driving force
Look to what’s next
CONTACT INFORMATION
Amanda Rector
Maine State Economist
Governor’s Office of Policy and Management
[email protected]
(207) 287-2873