Today’s jobs report from the U.S. Bureau of Labor Statistics (BLS) doesn’t give us much new information. Maine’s unemployment rate is about the same as the national rate at 5.8% and Maine has recovered less than 60% of the jobs it lost in the Great Recession, which ranks 44th among states.
Although slow population growth and aging baby boomers play some role in limiting our job growth in the wake of the recession, job-killing policy choices have also hurt our recovery. Holding up bonds, failing to invest in education, and refusing to accept hundreds of millions of dollars in federal health care funds have all contributed to our lack of job growth. Vermont and New Hampshire, which face similar demographic headwinds to economic and job growth, have managed to recover 97% and 86% of the jobs lost in the recession, respectively.
