Quarterly Economic Report: Productivity in Maine
MDF is pleased to present our first Quarterly Economic Report, Productivity in Maine. Produced in partnership with the University of Maine’s School of Economics, this series of quarterly reports further explores the economic indicators in Measures of Growth In Focus, a reliable and trusted annual report issued by the Maine Economic Growth Council.
Improving Maine’s relatively low level of worker productivity is critical to moving Maine’s economy forward. This first report explores in detail the reasons for, and impacts of, Maine’s comparatively low worker productivity, and serves as the basis for future papers in the series.
Productivity is driven in large part by available physical and human capital. Based solely on our level of educational attainment, Maine would be projected to perform much better than we currently do in output per worker. Maine’s rural nature and industry and occupational mix also play a role. Improving our productivity requires us to identify the types of jobs and industries that can thrive in less urbanized areas and invest in the skills, education, R&D, and innovation that support them.