WHAT: Rhode Island has entered into the early stages of a recession that is also affecting the United States’ and global economies. Given the decline in Rhode Island’s labor force over the past decade and a decline in employment service jobs over the past year, the state finds itself entering this recession in a relatively weak position. The shallowness of the state’s last economic recovery may make our ability to move into eventual recovery from the current crisis more difficult.
WHO: URI Professor of Economics Leonard Lardaro, creator and author of the Current Conditions Index.
WHEN: March 19, 2020
HOW: Use attached information, including summary and charts prepared by Lardaro for news reports. He is available for broadcast and print interviews. Lardaro will be blogging about the new labor data during the coming weeks. You can find his discussion and charts at http://rieconomy.blogspot.com. Additional information and historical data available online: http://www.llardaro.com/current.htm.
FOR INFORMATION: Leonard Lardaro, office, 401-874-4128, home, 401-783-9563.
Dawn Bergantino, URI Department of Communications and Marketing, 401-874-4147.
BACKGROUND: The Current Conditions Index, created by Lardaro, measures the strength of the present economic climate in Rhode Island by following the behavior of 12 indicators.