In every industry in Maine, there was more money to go around last year. About $1.1 billion more earnings, to be exact.
Whether the money made it all the way around is a different question, but figures from the U.S. Bureau of Economic Analysis showed every industry posted at least modest increases over 2014 for total personal income paid.
Industries are sorted from highest to lowest for total income paid (adjusted to 2015 dollars) over these years.
The last year that happened (increases all around) was… never! Well, it’s only never if you count the year 2000 as the beginning of time.
It almost goes without saying that no one data set tells a complete story about Maine’s economy. I’ll add — by example here — that one way of looking at a given data set doesn’t even tell the whole story of that one data set.
Looking at change in personal income for the same years, but in reference instead to the starting year, 2000, shows the tough road traveled by manufacturing.
(Blank points reflect data not disclosed, not an absence of personal income in those industries for those years.)
And that said, higher income in a given industry doesn’t say anything about where that increase went.
The estimates of payroll jobs by year’s end were up slightly over one year earlier, while wages also began to rise, both trends that have some part in boosting total industry earnings last year.