The Coastal Packet: Maine's economy is ranked 46th

Monday, August 17

Maine's economy is ranked 46th

Business Insider has ranked Maine's business economy as 46th among states in the nation. Last year Forbes ranked it 49th.

Shipbuilding and maintenance jobs are disproportionately common in Maine, home to Portsmouth Naval Shipyard, one of the four main shipyards used by the US Navy. The federal government employs about 4,700 workers in these industries. Maine saw low GDP growth in 2014 of only 0.2%. Maine's housing market was also slow, seeing only a 1.07% increase in housing prices. Maine's average weekly wage of $826 was also a bit lower than the national average of $1,035.

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