What the latest forecast says about the future of Maine’s economy
And the job fields that are growing at a healthy clip aren't enough to offset the number of jobs lost in older industries or slower growing job areas.
That's according to a report by the
Jobs with the highest net job growth over that period are registered nurses, food preparers and servers, and personal caregivers. The big winners are health care practitioners and technical occupations with an 8.9 percent rise in available jobs until 2028, and health care support operations with 9.2 percent.
Secretaries, administrative assistants and office clerks will be among those having a tough time finding work as their jobs disappear, down about 5.2 percent from the number of jobs now in existence.
The report also found that 22 percent of employees in their prime work years, ages 45-54, will be lost from
So far, it is not clear if those people are leaving the state, starting their own companies, working for cash or simply dropping out of the workforce, said
Most other age groups in the study declined.
Notably, the percentage of working people age 65 and older is expected to increase 55 percent, partly, experts say, to supplement their income and partly to have an activity after retirement.
But attracting and keeping Mainers at the start of and in the middle of their careers is key to building and growing the economy.
"For a resident of a state, a decrease in the jobs [unemployment] report is cause to be wary," said
He said
"Attracting talent to a state is critical to the overall economic success of the state," Steele said.
He said
"Employers will have to put in a lot more work to get staff," he said.
That's no different than other states or even countries,
"There's a global warfare for talent now,"
Some news reports say employers are adding benefits such as signing bonuses, extra vacation and shorter work weeks. A recent
The federal government is due to release updated unemployment rates
Many economists consider a 3 percent unemployment rate to be reason for concern about economic growth. The
"The report doesn't explain if manufacturing growth is stagnant because new technology is making it more productive or because it [manufacturing] is going away," he said. "The economy is changing. New technology will increase new ways of productivity, and the job numbers have to be tempered with the new technology."
Other unknowns include policy and political changes, a potential recession, and tariffs, he said. He expects politicians to make the most of the unemployment numbers and to propose solutions in the upcoming election season.
But the bottom line sits with businesses figuring out how to find and keep people.
"Smart companies that will expand and get ahead will figure out the longer term issues like how to better utilize a more seasoned workforce or those still sitting on the sidelines after the recession," he said.
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