In early 2017, economists and real estate experts discussed the state of the Maine economy at the Maine Real Estate And Development Association’s (MEREDA) annual conference, which has become one of the most anticipated economic events in the state over the last several years. There was much good news to be shared at this year’s event, as things continue to look bullish for the upcoming year.
Key Economic Indicators to Watch
Both the commercial and residential real estate market saw increases in 2016, which means more businesses are buying and renting space, and more people feel comfortable enough with their employment and income they are buying homes. Even so, Bangor does struggle to fill commercial space in its downtown area, but officials are working on strategies to make open spaces affordable to new businesses that want to move in and existing businesses that may wish to expand or relocate.
Nearly all of the jobs lost in the Great Recession have been replaced, and Maine’s civilian labor force added over 17,000 new workers, a 2.6 percent increase, between October 2015 and October 2016.
Where the Job Are in Bangor, Maine
According to Maine’s Department of Labor, there are several fields growing faster than average. They include the healthcare industry, both in patient-care positions and positions that support the healthcare industry. Both sectors are predicted to grow by almost 10 percent through 2024. Computer and technical jobs are expected to grow by almost 9 percent and service occupations are expected to grow over 5 percent through 2024.
Tourism in the state also continues to grow and more hotels are being constructed each year. The average price for a room in Maine is $69.70, up from $50 in 2009, and jobs are created each year in the hospitality industry and its supporting industries.
Connecting Employers With Talent in Bangor, Maine
A booming economy sounds like great news for employers, but the truth is even in a strong economy, employers can struggle to find the talent they need to move their business forward. Low unemployment rates and high job growth typically mean the people in Maine who want to work are already working. Attracting top candidates can sometimes be even more difficult in a good economy.
Are you looking for a new opportunity or talented individuals to join your team?
The good news is many of these employed workers can and will make a change when the right opportunity comes along. The key is to know how and when to get your opportunity in front of them. Bonney Staffing Center matches talented workers with great employers in the Bangor area, and across the state of Maine. If you are a job seeker in Bangor seeking new challenges, or if you are a business looking to connect with talented, qualified candidates, our team can help. Contact us today to see how we can help you achieve your goals.