Personal Income

Maine’s sharp rise in personal income expected to taper off as federal relief ends

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Maine ranked in the top 10 among U.S. states with sharp gains in personal income in the first three months of this year, but that’s likely to decline as federal pandemic benefits taper off, a new study found.

Multiple rounds of relief programs boosted personal income to record highs in more than half of U.S. states, and earnings edged up in most states, according to a Pew Charitable Trusts study released Wednesday.

However, that rise will be temporary as federal unemployment benefits end, including Saturday’s conclusion of the $300 weekly bonus through the latest $2.9 trillion stimulus bill. Maine’s “Back to Work” program, which offered up to $1,500 to help employers attract workers, ended on Aug. 20.

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