Please do not leave this page until complete. This can take a few moments.
With unemployment remaining below 4%, Maine employers are facing an ever greater scarcity of job-seekers. Around the state, employers are stepping up their hiring efforts, offering signing bonuses, a wider range of benefits, flexible work arrangements and, with some reluctance, higher pay. Even with the added perks, they often end up with no applicants.
Maine is on pace to record a post-recession high in building permits. At the current rate, Maine would have 4,711 by year's end, topping last year's 4,607 building permits issued, according to the U.S. Census.
Q: Where should I spend my time and money to improve customer outcomes and profit?
A topic that has dominated business talk in the past year has been companies' challenges in finding qualified workers.As we wrap up 2018 and look toward 2019, that has been the discussion we've replayed over and over.
New hiresEastern Maine Development Corp. in Bangor hired Russell Begin as CFO. He had been CFO at Maine Primary Care Association in Augusta.
Over the past several months, banks and other businesses have been looking for the Federal Reserve Board to cut interest rates, but the waiting game continues.
Basing its decision on new economic reports, the Fed on May 1 said it doesn’t plan to cut rates until it has “greater confidence” that inflation is slowing toward the central bank's 2% target. Three rate reductions have been projected for 2024, likely starting in June.
But for now, it appears the key borrowing rate in the U.S. will stay at a two-decade high of roughly 5.3%.
Keeping the rate so high for so long may tame inflation, but can also discourage new investment and business growth.
“The Fed is really stressing the banking industry,” said Andrew Silsby, president and CEO of Augusta-based Kennebec Savings Bank, in a Mainebiz story last month. “The economic environment is really quite difficult, but I haven’t quite figured out whether we’re through the storm or in the eye of the storm.”
The Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Learn MoreWork for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Learn MoreThis special publication examines the innovation infrastructure in Maine and the resources available to help entrepreneurs at the various stages of their journey.
Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
This special publication examines the innovation infrastructure in Maine and the resources available to help entrepreneurs at the various stages of their journey.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy