AUGUSTA, Maine A new analysis by a state panel of experts finds the Maine economy deteriorating fast, with the estimate of anticipated job losses now doubled.
Members of Maine’s Consensus Economic Forecasting Commission now think the recession will be much deeper than projected in November and that Maine appears to have felt the effects of the national recession much later than other states and will likely be slower to recover.
Additionally, the panel suggests that job losses are projected to number around 36,000 twice as many as projected in the previous forecast.
Job losses of that degree would be equivalent to those of the 1990-1991 recession.
State budget writers foresee a new revenue gap to cover, but won’t know how big until May.
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