AUGUSTA – Newly released numbers by the Bureau of Labor Statistics show that in August Maine hit a new record low unemployment of 2.9%. This new low has Maine tied for the for 9th lowest in the nation. The other states that hit new record lows last month are: Alabama (3.1 percent), Alaska (6.2 percent), Illinois (4.0 percent), Maine (2.9 percent), and New Jersey (3.2 percent).
According to RNC Spokesperson Nina McLaughlin, a large part of Maine’s economic successes are in fact due to Trump administration policies.
“There is no question that Maine’s economy is thriving under President Trump. From new jobs, to Mainers keeping more of their hard earned money, to a new historic low unemployment rate of 2.9%, Mainers see these successes and are ready to keep the winning streak going by re-electing President Trump in 2020,” said McLaughlin.
McLaughlin is correct in that since Trump took office, there have been thousands of new jobs added to Maine’s economy, including manufacturing jobs and jobs that resulted from the Tax Cuts and Jobs Act.
Those tax cuts have resulted in the average Mainer keeping about $1,400 more in their paycheck per year.
McLaughlin says there is the potential for continued success should Congress ratify the USMCA (United States Canada-Mexico Agreement).
The general belief is that the USMCA deal will level the playing field with Canada and Mexico and that innovative rules of origin in the deal will encourage more goods to be manufactured in the United States. That manufacturing would benefit American workers.
Maine’s economy was already headed in the right direction after Governor Paul LePage spent his two terms focusing on policies to expand and grow Maine’s economy and reduce the state’s overall debt.
In the Maine Legislature, however, new liberal majorities did pass some legislation that the business community worries will slow the growth of the economy.
Still, at this point it appears that the Trump administration’s tax cuts, streamlining of regulations and focus on economic growth has had the effect of super-charging Maine’s economy. According to information provided by McLaughlin, twenty-four states have now hit record low unemployment since the start of the Trump administration.