January 30, 2025 — Researchers from the University of Maine have created a new, holistic measure to study the resilience of the Maine lobster industry, which is drawing praise from industry leaders for identifying the structural and market factors that impacted it in recent years.
That industry has seen dramatic fluctuations in value in recent years, spiking to a record USD 724 million (EUR 694 million) in 2021 before dropping to USD 388 million (EUR 372 million) in 2022. The UMaine team said it hopes to quantify some of the challenges causing those flucuations in new ways, which can help fisheries management – something members of the industry said is sorely needed.