BANGOR — If Maine’s going to continue to dig itself out of the recession and thrive in the future it needs more people, according to an economics and public policy professor with 12 years of experience in the State Planning Office under three governors. Charles Colgan, a public policy and management professor at the Muskie […]
economy
Posted inBusiness, sj-web
In Maine, 4,000 face loss of extended unemployment benefits
AUGUSTA — Barring action from Congress, about 4,000 Mainers who receive extended unemployment benefits will lose those benefits after Dec. 28, 2013. The Maine Department of Labor, which administers the state’s unemployment benefits system, is urging those people to plan ahead. Maine’s seasonally-adjusted unemployment rate in October was 6.7 percent, the lowest figure since November […]
advertisement
Posted inBusiness, Local & State, New England, sj-web
Slow New England job growth seen lagging behind U.S. gains
HARTFORD, Conn. (AP) — Federal spending cuts and reduced consumer demand are slowing economic growth in New England, according to a set of projections released Wednesday. The report by the New England Economic Partnership, a nonprofit that provides analyses and forecasts, said economic growth of 3 percent through 2017 is less than what’s considered even […]
Posted inNation / World, sj-web
Dow closes at another record
NEW YORK — There weren’t any major economic developments or blockbuster earnings. But that didn’t stop investors from pushing the Dow Jones industrial average to another record Wednesday. Instead, investors focused on the big economic news yet to come this week — third-quarter U.S. economic growth on Thursday and the October jobs report Friday. Both […]
Posted inLewiston-Auburn
Auburn continues review of Growth Council contract
AUBURN — Councilors on Monday said they wanted to pick and choose which parts of a proposed Twin Cities economic development contract they wanted to fund. “It seems to me that we are the stewards of taxpayers’ money,” Councilor Joshua Shea said. “It’s about getting the best bang for our dollar, not about seeing what […]
Posted inBusiness, Local & State, sj-web
Maine economy rebounding slowly, but national events make predictions ‘a guessing game,’ experts say
AUGUSTA — Making predictions about the future of Maine’s economy and the flow of revenues into state coffers is a difficult task even under normal circumstances, but a committee of financial and economic experts found that the present situation is far from normal. The state’s Consensus Economic Forecasting Commission met Friday in Augusta to pin […]
Posted inBusiness, sj-web
After abysmal attendance for past two months, the Maine Jump might shut down on Nov. 1
BANGOR — Barring a large uptick in business to finish the month, The Maine Jump will close its doors Nov. 1, according to owner Ryan Hatch, who attributes the potential shutdown to a nosedive in attendance this fall and poor management decisions. Maine Jump is an inflatable play place, featuring slides, climbing walls, obstacle courses […]
Posted inOp-Eds
Austin Bay: China’s toughest economic problem — politics
In an October 7 speech given at the Asia-Pacific Economic Cooperation (APEC) summit, Chinese President Xi Jinping stated that a full and healthy global economic recovery from this century’s great recession would be a “long and tortuous process.” According to Xi, the global economy is experiencing a profound readjustment as the major economies struggle with […]
Posted inLocal & State, sj-web
Grass-roots effort underway to create statewide economic development strategy
In 2009, when FairPoint Communications wanted to entice the Maine Public Utilities Commission to approve its acquisition of Verizon’s landline business in Maine, it sweetened the deal with a promise to invest in Maine’s economic development. The telecommunications company won its approval and invested in excess of $500,000 over several years to commission ViTAL Economy, […]
Posted inNation / World, sj-web
Lawmakers still get a check, even in shutdown mode
WASHINGTON (AP) — There’s at least one constant in a government shutdown: The 532 members of Congress continue to be paid — at a cost of $10,583.85 per hour to taxpayers. Lawmakers get their pay even as hundreds of congressional staffers are sent home, packs of tourists are turned away at the Capitol, and constituent […]