Issue link: https://nebusinessmedia.uberflip.com/i/1451793
W W W. M A I N E B I Z . B I Z 9 F E B R UA R Y 2 1 , 2 0 2 2 F O C U S W E A LT H M A N A G E M E N T / R E T I R E M E N T Securities offered through Valmark Securities, Inc. Member FINRA, SIPC. Investment Advisory Services offered through Valmark Advisers, Inc. a SEC Registered Investment Advisor. 130 Springside Drive, Suite 300 Akron, OH 44333-2431 Phone: 800-765-5201. Lebel & Harriman, LLP is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc. Contact us to learn how we can help you: Construction Manufacturing Other Total Dec. 2020 30.7 52.7 517.8 601.2 Oct. 2021 30.2 53.8 530.2 614.2 Nov. 2021 30.6 53.3 530.6 614.5 Dec. 2021 30.5 53.3 532.5 616.3 S O U R C E : U.S. Bureau of Labor Statistics, numbers in thousands S O U R C E : Econsult, U.S. Bureau of Labor Statistics EMPLOYEES ON NONFARM PAYROLLS BY STATE AND SELECTED INDUSTRY SECTOR, SEASONALLY ADJUSTED MAINE ELDERLY POPULATION GROWTH WITH FEWER WORKING-AGE HOUSEHOLDS TO SUPPORT IT S O U R C E : Georgetown Univ., Univ. of Virginia population projections, Econsult HOW MAINE'S ECONOMY COULD BE AFFECTED E ven with a recent surge of people moving to Maine, the state's long- term demographic picture has not changed dramatically. There are still expected to be more households occupied by retirees and fewer occupied by working-age residents. F O C U S S TA R T S O N F O L L OW I N G PA G E ยป E 2020 ratio: 2.2 working-age households to 1 elderly household 2040 ratio: 1.6 working-age households to 1 elderly household 2020: 25% share of statewide household spending by seniors 2040: 31% share of statewide household spending by seniors Dec. 2020 Oct. 2021 Nov. 2021 Dec. 2021 601.2 614.2 614.5 616.3 600 605 610 615 620 TOTAL 2020 2040 286,000 H OU S EH OLDS 352,000 H OU S EH OLDS 23% GROWTH