Value-Added

+2

In 2020, value-added per worker rose 2%, but remained 25% below the U.S. average.

No significant movement since the last available data

Benchmark: Maine’s value-added per worker will improve to within 15% of the U.S. average by 2030.

Overview Fig. A

Overview

This indicator measures the productivity of workers by dividing gross domestic product by the total number of part- and full-time workers. Maine has a relatively high share of part-time workers, which lowers our value-added per worker. Productivity also reflects skill levels, business costs, and the major industries in a region’s economy.

Worker productivity in Maine has steadily increased but ranked 48th among the 50 states in 2020. Adjusted for inflation, value-added rose 2% to $101,379 per worker. This exceeded the average growth of EPSCoR* states but trailed the U.S. and New England. These figures may be distorted by the loss of low-wage jobs in 2020 due to COVID. Still, Maine remains about 25% behind the national average.

Both the Council and the State’s 10-Year Economic Strategy draw attention to the importance of increasing value-added to grow Maine’s economy and boost wages. The Council seeks for Maine to be within 15% of the U.S. average by 2030, while the State strives for 10% absolute growth.

Fig. A

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Real value Added per Worker

U.S. Value of Economic Analysis