The State of Maine Income Charts

This section shows the Maine economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Maine shows it has a Median earnings of $50,312 which is the second smallest as measured by median earnings per worker of all the other states in the local area. The state with the highest median earnings per worker in the group is Massachusetts which shows a median earnings of $69,105 (37.4% larger).

In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $63,182 which is the second smallest when ranked by median household income of all the other states in the greater region. The state with the highest median household income in the group is Massachusetts which shows a median income of $89,026 (40.9% larger).

The next section examines a variety of different income statistics for the Maine metropolitan area. In Figure 3 we see that it it has the largest proportion of earnings less than $10,000 at 6.1% of the total and is ranked #1. Second, it has the largest proportion of earnings between $10,000 and $14,999 at 5.4% of the total and is ranked #1. Third, it has the largest proportion of earnings between $15,000 and $19,999 at 32.6% of the total and is ranked #1. Also, it has the smallest proportion of earnings between $50,000 and $74,999 at 7.7% of the total. In addition, it has the smallest proportion of earnings between $75,000 and $99,999 at 8.7% of the total.

Figure 5 has the Average number of hours worked in a typical work week during the year, it has a Avg Hours Worked of 38.3 which is the second most of all the states in the surrounding region. The state with the highest average hours in the group is New Hampshire which shows an average hours of 38.5 ( about the same size). Dividing median annual worker earnings by the average number of hours worked in a year in Figure 6 shows that it has a Avg Hrly Earnings of $25.26 which is the second smallest when ranked by average hourly earnings of all the other states in the local area. The state with the highest average hourly earnings in the group is Massachusetts which depicts an average hourly earnings of $34.97 (38.4% larger).

Figure 7 examines the number of self employed people in the Maine metro area based on the number of people who reported any self employment income. Maine shows it has a Self Employed of 14.3% which is the second most people self employed of all the states in the greater Maine region. The state with the highest percentage of people self employed in the group is Vermont which depicts a percentage self employed of 15.5% (8.6% larger).

Turning our attention to Figure 8, the median household income by age group, has the smallest proportion of median income-under 25 years at $74,827 of the total. Second, it has the smallest proportion of median income-25 to 44 years at $74,619 of the total. Third, it has the smallest proportion of median income-45 to 64 years at $45,579 of the total.

Figure 9 breaks down the source of income and Maine has the largest proportion of income from wages at 5.9% of the total and is ranked #1. Second, it has the largest proportion of self employment income at 16.0% of the total and is ranked #1. Third, it has the largest proportion of investment and retirement income at 8.9% of the total and is ranked #1.

The next chart (Figure 11) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 24.1% which is the largest of all states in the greater Maine region.

In the next chart, Figure 12, the median family income is shown for families broken down by racial group and has the smallest proportion of overall family income at $82,457 of the total. Second, it has the smallest proportion of white family income at $51,526 of the total. Third, it has in the center range of other states in the metro area when sorted by black family income at $56,417 of the total. Also, it has the smallest proportion of american indian family income at $78,000 of the total. In addition, it has the largest proportion of asian family income at $113,542 of the total and is ranked #1. Furthermore, it has one of the largest proportions of hawaiian family income at $75,938 of the total and is ranked #2. The only larger state being Vermont with $77,243.

Figure 13 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Maine depicts it has the hightest cost of 111.8 for the cost of transportation category.

The State of Maine Labor Force Charts

The next two charts look at very recent, monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2020, the Covid 19 recession or great recession occurred and affects this metric. . It depicts that from January 2010 to before the Coronavirus Pandemic the monthly unemployment rate went from 9.2% to 3.8% in March 2020. This represents a decrease in the monthly unemployment rate of 58.7%. Since that time, the monthly unemployment rate has gone to 3.2% This represents a decrease in the monthly unemployment rate of 15.8%. In Figure 15 the monthly labor force participation which are people actively looking for work are also defined as unemployed but do not include people who have given up looking for work. . It depicts that from February 2010 to before the Wuhan Coronavirus Pandemic the monthly labor force participation went from 685,916 to 694,490 in January 2020. This represents an increase in the monthly labor force participation of very little. Since that time, the monthly labor force participation has gone to 671,946 This represents a decrease in the monthly labor force participation of 3.2%.

The next two charts look at the annual unemployment rate/eligible for unemployment benefits and is based on the American Community survey. Figure 16 shows Maine shows it has a Unemployment Rate of 2.7% which is in the mid range of other states in the metropolitan area. The state with the highest unemployment rate in the group is Connecticut which depicts a rate of 4.0% (49.8% larger). Figure 17 shows the labor force participation using the estimated percentage of people either working or actively looking for work. the state of shows it has a Labor Force Participation of 62.9% which is the second smallest in order of participation rate of all the other states in the local area.

The Components of Employment Status graph in Figure 18 shows the composition of the labor force broken down by employed, unemployed, and not in the labor force (but 16 years of age or older). Maine has the largest proportion of unemployed at 37.1% of the total and is ranked #1.

The percentage of full-time workers are compared to the number of part-time workers in Figure 19. Maine depicts full time employees approximately 3.1 times bigger as the part time employees.

The next employment related data item is shown in Figure 21 which is the percentage of families with only a single earner in the greater Maine area. Maine shows it has a Single Earner Families of 24.6% which is in the intermediate range of other states in the area. The state with the highest families with a single earner in the group is Connecticut which depicts a single earners rate of 26.5% (7.6% larger). The percentage of families with no one working is depicted in Figure 22. Maine depicts it has a Families with No One Working of 18.9% which is more than all other states in the greater Maine region.

The State of Maine Poverty Charts

The next section details economy analysis about poverty for residents of the Maine community. This performance can be enhanced by government programs such as economic opportunity zone to influence manufacturing, job growth, economic opportunity an hopefully lead to economic recovery after the recent Covid 19 recession. In Figure 23 the total number of people earning less than the poverty level are shown. Maine shows it has a Total In Poverty of 145,992 which is the third most total people earning less than the poverty level of all other states in the greater Maine region. The state with the highest total people earning less than the poverty level in the group is Massachusetts which shows a total people earning less than the poverty level of 668,780 (approximately 4.6 times bigger).

In Figure 24 the percentage of people earning less than the poverty level is shown and compared across the group of places. Maine depicts it has a Percent of Population In Poverty of 11.0% which is the second most percent of people earning less than the poverty level of all the states in the greater Maine region. The state with the highest percent of people earning less than the poverty level in the group is Rhode Island which shows a percent of people in poverty of 11.3% ( only slightly larger).

In Figure 25 people who are in poverty are broken out by age group. Maine has the smallest proportion of person in poverty 12 to 17 years at 24% of the total. Second, it has the largest proportion of person in poverty 35 to 54 years at 15% of the total and is ranked #1. Third, it has the largest proportion of person in poverty 55 to 64 years at 16% of the total and is ranked #1.

The next chart, Figure 26, shows the percentage of people in poverty by racial group. Maine has the largest proportion of white poverty rate at 26% of the total and is ranked #1. Second, it has one of the largest proportions of asian poverty rate at 22% of the total and is ranked #2. The only larger state being Connecticut with 27%.

Figure 27 shows key poverty statistics for groups based on marriage status. Maine has the largest proportion of unmarried with children and in poverty at 36% of the total and is ranked #1. Second, it has the largest proportion of unmarried female with children and in poverty at 19% of the total and is ranked #1.

The next chart looks at the percentage of people in poverty based on their education level in Figure 28 marriage status. Maine has the largest proportion of less than highschool in poverty at 13% of the total and is ranked #1. Second, it has the largest proportion of highschool graduate and in poverty at 9% of the total and is ranked #1. Third, it has the largest proportion of has some college and in poverty at 4% of the total and is ranked #1. Figure 29 looks at only those people who make less than the poverty level of income and breaks down there employment status. Maine has the smallest proportion of people who are in poverty and unemployed at 17.6% of the total. Additionally, Figure 30 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) the state of depicts it has a Public Assistance Percent of 13.2% which is the third most households with public assistance of all other states in the greater Maine region. The state with the highest households with public assistance in the group is Rhode Island which depicts a households with public assistance of 16.0% (21.7% larger).

Figure 31 shows the "Gini Index of Income Inequality" with a range from zero (perfect equality) to one (perfect inequality). the state of depicts it has a Gini Index of 45.4% which is in the center range of other states in the metropolitan area.

The State of Maine Work Commute Charts

The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Maine community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 32 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Maine has the smallest proportion of people who drive a car or motorcycle to work at 0% of the total. Figure 33 shows a more detailed view of how the population commutes to work for (for example to downtown Maine or elsewhere.) Maine has the largest proportion of people who carpooled at 9% of the total and is ranked #1. Second, it has the smallest proportion of people who take the bus at 0% of the total. Third, it has the smallest proportion of people who take a Subway or elevated rail at 0% of the total.

In Figure 35 is shown a frequency distribution of the time that people leave for work. Maine has the largest proportion of people who leave for work between 12am to 5am at 4% of the total and is ranked #1. Second, it has the largest proportion of people who leave for work between 5am to 530am at 6% of the total and is ranked #1. Third, it has the largest proportion of people who leave for work between 530 am to 6am at 10% of the total and is ranked #1. Also, it has the largest proportion of people who leave for work between 6am to 630am at 12% of the total and is ranked #1. In addition, it has the smallest proportion of people who leave for work between 730 am to 8am at 9% of the total. Furthermore, it has the smallest proportion of people who leave for work between 8am to 830am at 4% of the total. Next it has the smallest proportion of people who leave for work between 830 am to 9am at 5% of the total. Additionally, it has the smallest proportion of people who leave for work between 9am to 10am at 2% of the total. And then, it has the smallest proportion of people who leave for work between 11am to 12noon at 6% of the total.

The next graph in Figure 36 shows the average number of minutes that it takes for people to commute to work. Maine has one of the largest proportions of people with commute time of less than 5 minutesutes at 13% of the total and is ranked #2. The only larger state being Vermont with 13%.

The average commute time is shown in Figure 37. the state of shows it has a Avg Commute Time of 24 which is less than most other states in the metropolitan area. Figure 38 shows the difference between male versus female commuting time. Maine depicts average commute time in minutes for men 24.9% larger as the average commute time in minutes for women. Figure 40 shows the total number of vehicles available for transportation and Maine has the percentage of no vehicle available less than most other states in the local area at 18% of the total. Figure 41 shows the percentage of people who both work and live in the same city (town or place.) the state of depicts it has a Work in city or place where live of 43% which is the most of all states in the greater Maine region.

The State of Maine Jobs Charts

The next to charts break out the median earnings for major job categories for men and women. Figure 46 shows the median earnings of men for the job categories. the state of depicts it has the hightest median earnings of $85,054 for the earnings-healthcare practitioners and tech occupations aggregate. Similarly, Figure 47 shows the median earnings of women for the job categories and the state of shows it has the hightest median earnings of $65,581 for the earnings-healthcare practitioners and tech occupations category. The table in Figure 48, shows Maine employment data in terms of job categories and salary data.

The State of Maine Self Employment Charts

Figure 49 shows economic activity in terms of the number of people who are self employed in incorporated local business by industry. the state of depicts it has the hightest entrepreneurs of 46% for the self employed management, business, science, and arts businesses category.

Similar to the last chart is Figure 50 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. the state of depicts it has the hightest entrepreneurs of 19% for the self employed in construction group.

In Figure 51 the average annual self employment/entrepreneur income is shown. the state of shows it has a Self Employment Income of $34,647 which is less than most other states in the local area. The state with the highest average annual self employment income in the group is Connecticut which depicts an average annual self employment income of $52,356 (51.1% larger).

Figure 52 shows the difference between the number of self employed men and self employed women (i.e. entrepreneurs.) Maine depicts total number of self-employed men about twice as large as the total number of self-employed women.