PORTLAND (WGME) — Mounting job losses and rising prices are squeezing Maine\u2019s economy.<\/p>\n
If you are noticing your dollar isn’t going as far as it used to, you aren’t alone.<\/p>\n
A new report out from the credit rating company Moody’s says 22 states, including Maine, are either in a recession or will be in one soon.<\/p>\n
Some Mainers say they are not surprised to hear this.<\/p>\n
They say rising prices are driving businesses and people out of places like Portland.<\/p>\n
But others say a recession isn\u2019t even on their radar.<\/p>\n
Five New England states are on the list, including New Hampshire and Massachusetts.<\/p>\n
According to Moody\u2019s, the economic problems are driven largely by a mixture of slowing immigration, increasing tariffs and federal job cuts.<\/p>\n
The states doing well are ones seeing rapid growth in their populations, particularly Texas and Florida.<\/p>\n
Moody\u2019s calculations are based off where things stood in the economy at the end of August before the government shut down.<\/p>\n
Some people say they still think the economy is doing well despite this report.<\/p>\n
\u201cPortfolios and 401Ks and all that stuff is finally coming back, the stock market is the highest it\u2019s ever been, so that\u2019s a positive and hopefully that continues,\u201d consumer Leslie Bysterbusch said.<\/p>\n
The owner of Joe\u2019s Hotdog Stand in Monument Square had a different opinion.<\/p>\n
He says the economy in Portland is hurting, and he\u2019s seeing a drop in business.<\/p>\n
He believes rising costs are one of the main factors behind this.<\/p>\n","protected":false},"excerpt":{"rendered":"PORTLAND (WGME) — Mounting job losses and rising prices are squeezing Maine\u2019s economy. If you are noticing your…\n","protected":false},"author":2,"featured_media":215801,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,101,47096,10482,45025,20024,18223,14443,16536],"class_list":{"0":"post-215800","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-job-losses","11":"tag-maine","12":"tag-moodys","13":"tag-new-england","14":"tag-portland","15":"tag-recession","16":"tag-rising-prices"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/215800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=215800"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/215800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/215801"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=215800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=215800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=215800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}