BANGOR DAILY NEWS • April 9, 2020
A group of economists said on Thursday that the coronavirus has caused an unprecedented economic shock with no clear roadmap for recovery, with one calling the situation particularly “dire” for Maine. The economists agreed the near-stoppage of most economic activities was necessary in order to stop the spread of the virus. We’ve already passed the worst of the recession as we saw it in Maine during the 2007 to 2009 period in terms of new unemployment claims. Then, the industries that are being hit the hardest are the ones that really form much of the core of the Maine economy, namely the hospitality and tourism industries. With the related effects on things like the fisheries in Maine, the lobster industry in particular, there are real concerns about not just how deep this is going to go for them, but how are they going to recover from this?