Updated March 23 at 9:23pm
Economic Indicators
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(Updated 2:29 p.m.) Federal Reserve officials raised interest rates for the first time this year and forecast a steeper path for borrowing costs in 2017, saying inflation expectations have increased “considerably” and suggesting the labor market is tightening. more
Rhode Island’s seasonally adjusted unemployment rate was 5.6 percent in August, up one-tenth of one percentage point from July and down two-tenths of one percentage point from the year prior, reported the R.I. Department of Labor and Training on Thursday. more
The cash sales share of total home sales in the Providence-Warwick metropolitan area decreased nearly 10 percentage points year over year in December, to 22.5 percent, which was lower than the national cash sales share at 33.4 percent, CoreLogic said Thursday. more
The foreclosure rate in the Providence-Warwick metropolitan area inched up slightly in January compared with January 2015, CoreLogic said. more
(Updated 11:41 a.m.) Cash sales accounted for 21.8 percent of total home sales in September in the Providence-Warwick-Fall River metropolitan area, a 0.7 percentage point decrease compared with the rate in September 2015, CoreLogic said Wednesday. more
Employer costs for employee compensation in March were higher in New England than any other geographic region in the country, according to data from the federal Bureau of Labor Statistics released this week. more
Undocumented immigrants pay $31.2 million in state and local taxes in Rhode Island, according to a study released Friday by the Institute on Taxation and Economic Policy, a nonprofit, nonpartisan think tank that works on state and federal tax policy issues. more
Cash collections increased 2.2 percent over the year in November to $244.4 million, led by a 115.5 percent jump in departmental receipts, the R.I. Department of Revenue said Thursday. more
The state’s seasonally adjusted unemployment rate fell 1 percentage point year over year in April to 5.3 percent, a level not seen since August 2007, the R.I. Department of Labor and Training announced in its monthly report Thursday afternoon. more
A divided Federal Reserve left its policy rate unchanged for a sixth consecutive meeting, saying it would wait for more evidence of progress toward its goals, while projecting that an increase is still likely by year-end. more
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