Employment in Maine is expected to shrink by more than 15,000 jobs over the 10-year period ending in 2028, according to a new labor market outlook report compiled by state economists.
The projected drop in employment between 2018 and 2028 is the result of the number of baby boomers reaching retirement age outpacing the number of young Mainers aging into the labor force, according to the report.
Although the trend seems worrisome, it could in fact boost competition in the labor market, improve wages and maintain or increase productivity, the Maine Department of Labor’s Center for Workforce Research and Information said in the report.
“In the decade through 2028, the labor force is expected to become modestly older and smaller,” it said. “This situation should not be viewed as a crisis. There is every reason to believe that continued productivity gains will be enough to meed the needs of a population that is modestly increasing in size.”
Maine’s population growth in the past five years has mostly come from people moving into the state. Economists expect that trend to continue or even accelerate in the aftermath of the pandemic, as professionals and others move to the state to take advantage of a lower cost of living and remote work arrangements.
“We do not yet know the extent to which the pandemic and other factors may prompt people to move to Maine,” the economists said. “If there is a large upswing in migration to the state, the size of the labor force may not contract at all.”
Health care, and to a lesser extent food service occupations, are among the 25 jobs expected to grow the most by 2028. Retail workers, clerks and administrative assistants, fabricators and educators are expected to experience the highest net job losses, according to the analysis.
Health care, social assistance and hospitality are expected to be the industries with the highest percentage of job growth, while information, including publishing, telecommunications and broadcasting, retail trade, wholesale trade and manufacturing, are expected to experience the highest percentage of loss of jobs, the state projects.
This story will be updated.
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October 13, 2020 at 10:03PM
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State predicts Maine will lose more than 15000 jobs by 2028 - Press Herald
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