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June 26, 2023
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Building the ‘candidate pipeline’: Maine employers ramp up summer internship programs

Renee Cordes

With Maine’s jobless rate at a historic low, employers are hiring interns to attract — and test — young talent and build loyalty.

  • Newsworthy people and performances for June 26, 2023

    A roundup of new hires, promotions and achievements from businesses and nonprofits throughout Maine.

  • Education is at the heart of workforce development

    Peter Van Allen

    There are very few jobs available right now that don’t require some level of education or training. We hear it all the time at Mainebiz, but employers of all kinds are struggling to find workers.At the front end, employers are offering higher wages or salaries, signing bonuses and incentives like flex time or hybrid work. But to be ready to move into those positions, potential employees need education and/or training.

Today's Poll

Is it time for the Federal Reserve to start cutting interest rates?
Poll Description

Over the past several months, banks and other businesses have been looking for the Federal Reserve Board to cut interest rates, but the waiting game continues.

Basing its decision on new economic reports, the Fed on May 1 said it doesn’t plan to cut rates until it has “greater confidence” that inflation is slowing toward the central bank's 2% target. Three rate reductions have been projected for 2024, likely starting in June.

But for now, it appears the key borrowing rate in the U.S. will stay at a two-decade high of roughly 5.3%.

Keeping the rate so high for so long may tame inflation, but can also discourage new investment and business growth.

“The Fed is really stressing the banking industry,” said Andrew Silsby, president and CEO of Augusta-based Kennebec Savings Bank, in a Mainebiz story last month. “The economic environment is really quite difficult, but I haven’t quite figured out whether we’re through the storm or in the eye of the storm.”

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