Economic Indicators
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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
(Updated, 11:45 a.m.) American employers hired fewer workers than forecast in August, and the jobless rate dropped because people left the workforce, bolstering those on the Federal Reserve who want to be more deliberate in removing monetary stimulus. more
More U.S. cities are hiring than at any time since the Great Recession as the reviving economy and rising property taxes allow higher spending for a second straight year, according to a report released last week. more
Consumer confidence rose in April to a nine-month high, showing Americans are growing more upbeat about the economy as the labor market gains traction. more
Rhode Island ranked 29th on the annual Opportunity Index, released Monday from the national campaign, Opportunity Nation. more
In a volatile economy and real estate market, Rhode Island rents have been a source of stability. more
The owner of Checkmaster Payroll Services pleaded guilty in U.S. District Court on Monday to defrauding seven businesses and the Seekonk, Mass., Water District of more than $1.2 million in federal payroll taxes that were supposed to have been paid to the Internal Revenue Service. more
Textron Inc. reported that net income grew 60.6 percent in the third quarter to $159 million, or 57 cents per diluted share, compared with $99 million, or 35 cents per diluted share, during the same period last year, driven by the company’s Beechcraft Corp. acquisition. more
As competition for commercial business among banks in the region intensifies, Washington Trust Bancorp, parent of The Washington Trust Co., is sticking to a cautious, service-focused business model as it looks for growth opportunities – especially in Massachusetts and Connecticut. more
Three years ago, the Rhode Island chapter of the Associated Builders and Contractors Inc. spent nine months getting permit approvals for a small, $30,000 office renovation in Pawtucket that its president says should have taken a month. more
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