Economic Activity
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The Rhode Island unemployment rate has dropped to 7.9 percent in June, its lowest level since July of 2008, according to the R.I. Department of Labor and Training. Nationally, however, the Rhode Island unemployment rate remains 1.8 percent higher than the U.S. average of 6.1 percent for June. more
The winning candidates in the fall elections may inherit a healthier economy than their campaign slogans suggest. more
The city has started the second year of work in its $40 million road re-surfacing project. Funded with a voter-approved bond in 2012, the road project completed 32 miles of repaving last year and began this year’s work Wednesday on Moses Brown Street in the Wayland Square neighborhood. more
The Providence Journal posted a 2.7 percent gain in first-quarter revenue to $21.2 million, according to a U.S. Securities and Exchange Commission filing made public Wednesday. more
Foreclosures in the Providence-Warwick metro area declined to 1.98 percent of all outstanding mortgage loans for the month of January from 2.86 percent during the same month a year earlier, according to a CoreLogic report released Monday. more
The R.I. Department of Revenue collected $27.6 million less than expected in March, meaning the monthly total general revenue of $305 million fell 8.3 percent short of the $333 million originally projected, the department reported Tuesday. more
Companies boosted payrolls in March by the most in three months, adding to evidence the job market is recovering from a blast of harsh winter weather, a private payrolls report showed. more
Moody’s Investors Service issued a warning on April 17 regarding Rhode Island’s failure to reach a settlement with public employee unions over the state’s pension lawsuit, which will go trial on Sept. 15 following the breakdown in renewed mediation talks earlier this month. 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
Employers in the U.S. boosted payrolls in March and the unemployment rate held at 6.7 percent even as more Americans entered the labor force, showing steady progress that will probably prompt Federal Reserve policy makers to continue reducing stimulus while keeping interest rates low. more
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