2011 data shows 'stagnant' Maine economy
Maine's economy was mostly stagnant through 2011, based on U.S. Census statistics released Wednesday that show a decline in median household income and an increase in the number of people living below the poverty line.
Charles Colgan, a professor at the Muskie School of Public Service at the University of Southern Maine, told the Bangor Daily News that the new 2011 figures are signs of a stagnant economy. And the rise in the number of people living below the poverty line — from 12.9% to 14.1% — "is back to pretty much where we were a generation ago," Colgan told the BDN.
Here are the key numbers to come from the latest release of the American Community Survey, comparing Maine in 2010 to 2011:
- Median household income declined 2.2%, from $47,069 to $46,033.
- The number of people living in poverty increased from 12.9% to 14.1%.
The latest data also shows an increase in Maine's overall population of around 1,000 and a bump in the number of residents over 25 who hold a bachelor's degree — a number that rose from 26.8% in 2010 to 28.4% in 2011.
The BDN reported that health insurance coverage also increased by approximately 7% among Maine residents from ages 19 to 25, rising to 81.4% of that group having any type of health insurance. The number covered by private health insurance increased from 56.3% to 61.1%.
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