HARTFORD, Conn. — Economic growth in New England has been slowest in Connecticut and Maine since the end of the recession in 2009, according to new federal statistics released Wednesday. Quarterly gross domestic product — the value of all goods and services — from 2005 to 2013 was released by the U.S. Commerce Department, which said […]
economy
Posted inLocal & State
Federal report on economic growth spurs partisan attacks in Maine
LEWISTON — A new federal report on economic growth — or lack thereof — is providing fertile ground for criticism from both Democrats and Republicans running for office in Maine. The federal Bureau of Economic Analysis on Tuesday released the latest data on economic growth in the U.S., including a state-by-state breakdown that shows Maine’s […]
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Posted inBusiness, sj-web
Largest economies are operating at varying speeds
WASHINGTON — The global economy is plodding ahead in fits and starts as the largest countries struggle to achieve consistent growth. Europe is faltering again. Japan is suddenly surging. China is cooling. The U.S. is strengthening. In the background, central banks are aiming to administer just the right amount of stimulus — not too much, […]
Posted inNation / World, sj-web
April adds 288,000 jobs to U.S. economy
WASHINGTON — U.S. employers added a robust 288,000 jobs in April, the most in two years, the strongest evidence to date that the economy is picking up after a brutal winter slowed growth. The Labor Department also said Friday that the unemployment rate sank to 6.3 percent, its lowest level since September 2008, from 6.7 […]
Posted inNation / World, sj-web
Major economic powers express confidence about global growth despite variety of threats
WASHINGTON (AP) — Finance officials of the world’s major economies expressed confidence Friday that they can meet an ambitious goal of boosting global growth by $2 trillion over the next five years. That’s despite a variety of threats including rising political tensions over Russia’s actions in Ukraine. Finance ministers and central bank presidents of the […]
Posted inBusiness, Nation / World, sj-web
U.S. economy adds 192,000 jobs in March
WASHINGTON — U.S. employers added jobs at a solid pace in March and hired more in January and February than previously thought. Friday’s government report sent a reassuring signal that the economy withstood a harsh winter that had slowed growth. The economy gained 192,000 jobs in March, the Labor Department said Friday, slightly below February’s […]
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Phillips loses plow truck to fire
PHILLIPS — A fast-moving fire reduced the town’s 2010 International plow truck to charred rubble Wednesday. The driver was not injured. Public Works employee Matt Stevens was plowing the remote East Madrid Road when he saw the flames shooting from the hood of the double-axle wheeler, Town Manager Elaine Hubbard said. Stevens, also an experienced […]
Posted inLocal & State, sj-web
Survey: Mainers struggle to pay medical bills — even those with insurance
Many Maine residents, even those with health insurance, struggle to afford their medical bills, a new statewide survey has found. While the poorest Mainers reported the most difficulty affording health services, more than a quarter of residents with health coverage ran into trouble paying medical bills, according to the survey released Wednesday by the Maine […]
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USM president proposes cutting four programs, 20-30 faculty positions
PORTLAND — University of Southern Maine President Theo Kalikow is proposing to cut four programs and between 20 and 30 faculty jobs as the school attempts to overcome a $14 million budget shortfall. Kalikow announced the spending gap, which represents nearly 10 percent of the school’s fiscal year 2015 budget, nearly two months ago and […]
Posted inBusiness, Nation / World, sj-web
U.S. economy adds more jobs than expected
WASHINGTON — Employers added more workers than projected in February, indicating the U.S. economy is starting to bounce back from a weather-induced setback. The jobless rate unexpectedly climbed from a five-year low. The 175,000 gain in employment followed a revised 129,000 increase the prior month that was bigger than initially estimated, Labor Department figures showed […]