AUGUSTA — Maine was the only state in New England last year to see a reduction in the gross domestic product, which measures overall economic activity. “It is the primary measure of economic growth for each state,” said Mike Allen, associate commissioner for the Department of Administrative and Financial Services. Allen, an economist, serves on […]
economy
Posted inMaine, sj-web
LePage: Economy growing stronger
AUGUSTA, Maine (AP) — Gov. Paul LePage sees an improving Maine economy as the summer tourism season begins. In his weekly radio address, LePage says traffic into Maine during the Memorial Day weekend was up, and campgrounds say reservations for the summer season are up by 10 percent or more. This means more money is […]
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Posted inNation / World, sj-web
Obama: Congress, Europe must stem economic crisis
WASHINGTON (AP) — The economy at risk, President Barack Obama accused Republicans on Friday of pursuing policies that would weaken the U.S. recovery. He simultaneously urged Europe’s leaders to prevent an overseas debt crisis from dragging down the rest of the world. At a White House news conference five months before Election Day, the president […]
Posted inBusiness, Nation / World, sj-web
U.S. employers waiting and watching before hiring
NEW YORK (AP) — Business has picked up. Yet American companies are too nervous to step up hiring. The economy seems so gripped by uncertainties that many employers have decided to manage with the staff they have. They aren’t convinced their customer demand will keep growing. Or they worry that Europe’s festering debt crisis could […]
Posted inBusiness, Nation / World, sj-web
Jobs report weakens Obama’s election argument
The economy, Obama conceded Friday, “is not growing as fast as we want it to.” Taking a harsher tone, presumed Republican rival Mitt Romney declared that the country appeared to be “moving backward.” He sought to drive home a political point from the nation’s first increase in joblessness in almost a year. After a winter […]
Posted inBusiness, Maine, sj-web
Maine home sales, prices go up in April
PORTLAND, Maine (AP) — A realty group says home sales in Maine have gone up for the ninth straight month. The Maine Association of Realtors says home sales rose by nearly 9 percent in April while the median sales price increased more than 4 percent, to $167,950. The group says home sales nationally rose about […]
Posted inMaine, sj-web
Moody’s revises Maine bond outlook to negative
AUGUSTA, Maine (AP) — Moody’s Investors Service rating agency has affirmed Maine’s bond credit rating but revised its ratings outlook from stable to negative ahead of an upcoming sale of $55 million of bonds. State Treasurer Bruce Poliquin said Friday that the revised outlook is not good news, but will have no financial impact on […]
Posted inMaine, sj-web
LePage touts accomplishments in first 500 days
PORTLAND, Maine (AP) — Regardless of what critics might say, Republican Gov. Paul LePage has done much of what he promised he’d do, pushing through tax cuts, reducing the state pension fund shortfall, paying back money owed to hospitals, and cutting Medicaid benefits that he said were too generous. And he’s commemorating his accomplishments in […]
Posted inMaine, sj-web
Maine police departments have difficulty recruiting officers
PORTLAND, Maine — A bright red “ we’re hiring” advertisement comes flashing forward when the Portland Police Department’s website is opened. The Maine State Police website has a “***now hiring***” line in red and also a crawler across the top of its site that states the hiring process is now open. The state’s largest police forces are not alone […]
Posted inOpinion
Let voters speak on 2012 bond proposal
Maine has gone one year without passing a bond package and we should not go another. That’s why it is critical for legislators to act to pass the $95.6 million package put together last month by legislative committee. Gov. Paul LePage, who adamantly opposed last year’s package, should then stand clear and allow voters to […]