Economic Indicators
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Applications for unemployment benefits in the U.S. rose to 317,000 last week, holding below this year’s average and signaling sustained progress in the labor market. more
BOSTON – The Mass. Bureau of Labor Statistics’ preliminary estimates show that Massachusetts added 9,100 jobs in May and the total unemployment rate dropped 0.4 of a percentage point from April’s rate to 5.6 percent. more
Is airline consolidation really so bad for the flying public? On the surface it would seem that way. In 2013, for instance, 85 percent of all U.S. domestic passengers flew on one of just four airlines -– each of which expanded substantially as a result of a merger or acquisition between 2008 and 2013. Meanwhile, between 2007 and 2012, airfares rose 4 percent. Consolidation appears to have reduced competition. more
Personal income in Rhode Island rose eight-tenths of a percent in the first quarter, after increasing 1 percent in the fourth quarter of 2013, according to a report released Tuesday by the U.S. Bureau of Economic Analysis. more
Rhode Island single-family home sales fell 6 percent in May compared with the same period in 2013, the Rhode Island Association of Realtors said Tuesday. more
Sales of single-family homes in Massachusetts dropped 7 percent in May year over year, real estate data tracking firm The Warren Group reported Tuesday. more
Fewer Americans are filing applications for unemployment benefits, consumer confidence is rising and manufacturing is picking up as the world’s largest economy shows additional signs of strengthening. more
The foreclosure rate in the Providence-Warwick metro area dropped to 1.78 percent in April from 2.54 percent during the same month last year, real estate data firm CoreLogic reported Tuesday. more
Rhode Island should be attracting a substantial amount of research and development, considering its mostly urban environment, good public and private universities and its human capital, says Michael Hicks, director of Ball State University’s Center for Business and Economic Research, which last month released its 2014 Manufacturing and Logistics Report. more
Gas prices surged 3 cents in Rhode Island this week and 4 cents in Massachusetts as concerns about militant extremists causing unrest in Iraq affected oil and gasoline prices nationwide, AAA Southern New England reported. more
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