Economic Activity
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(Updated, 3:50 p.m., Aug. 28) Some of the region’s most buzzworthy companies have been named in Providence Business News’ third Fastest-Growing & Innovative Companies awards program. Companies with the largest percentage growth of revenue from 2011 to 2013 in four revenue size categories, along with the most innovative companies in each of 10 industry categories, will be feted on Sept. 10 at an oceanfront event at Newport’s Rosecliff Mansion. more
Gasoline prices dropped 4 cents in Rhode Island this week and 3 cents in Massachusetts, according to the weekly survey by AAA Southern New England. more
With the drop of Rhode Island’s unemployment rate in July to 7.7 percent, the state no longer claimed the highest jobless rate in the country for the first time since October, the U.S. Bureau of Labor Statistics reported Monday. more
“Wet Paint,” a fundraiser predicated on selling just-made art, raised $101,000 for the Newport Art Museum last weekend, with a record-breaking 564 pieces of art donated for sale in silent and live auctions. more
The cost for a middle-income family to raise a child born last year to age 18 is $245,340, a 1.8 percent increase from the previous year and the smallest jump since the financial crisis, according to the government. more
Scaffolding has been erected on the Westminster Street side of 111 Westminster St., also known as the Superman Building, as the owner, High Rock Westminster Street LLC inspects the façade of the historic 26-story art deco tower with an eye to needed repairs. more
American consumer confidence unexpectedly declined in August to a nine-month low, repressed by gloomy wage perceptions. more
Factory production increased in July at the fastest pace in five months as capital spending climbed and motor vehicle demand surged, indicating the industry is helping propel the U.S. economy. more
Rhode Island’s unemployment rate declined again in July to 7.7 percent, a slight drop compared with June but down almost 2 percentage points year over year, according to the R.I. Department of Labor and Training. more
Workers in the Providence-Fall River-Warwick metro area had an average hourly wage of $23 in May 2013, roughly 3 percent above the nationwide average of $22.33, according to the latest data from the U.S. Bureau of Labor Statistics. more
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Please join PBN on September 10th for the 3rd Annual Fastest Growing & Innovative Companies program at Rosecliff Mansion in Newport. Seating is limited so be sure to register early.
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