Despite National Trends RI's Economy Seems To Be Stagnating
Despite national trends, Rhode Island’s economy may not be on the road to recovery. That’s according to the latest numbers from URI economics professor Leonard Lardaro.
Lardaro’s monthly numbers track the state’s economic progress based on a variety of factors, from benefit claims to employment. Rhode Island now stands with a neutral ranking of 50 on a 100 point scale, compared with 85 during the same time last year. Lardaro blames much of this on Rhode Island’s persistent unemployment which now hovers just below eight percent.
Manufacturing wages declined, as did both the number of government and service jobs Lardaro worries Rhode Island’s economy is stagnating as the rest of the country is seeing improvement.
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