WHAT: Rhode Island’s economic performance in October was its strongest in a long, long time. Even using the flawed “official” labor market data, the Current Conditions Index registered a score of 75. Overlooking the labor data inaccuracies, the more correct score for October is either 83, or quite possibly 92, depending on whether employment services jobs actually rose. Our state’s labor force rose in October for the first time since the end of 2010. The neutral value of the index is 50.

WHO: URI Professor of Economics Leonard Lardaro, creator and author of the Current Conditions Index.

WHEN: For release today, December 10, 2012

HOW: Use attached information, including summary and charts prepared by Lardaro for news reports. He is available for broadcast and print interviews. The new information and other historical information can also be found on Lardaro’s web site at http://www.llardaro.com/current.htm. 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.

FOR

INFORMATION: Leonard Lardaro, office, 401-874-4128, home, 401-783-9563

Dave Lavallee, URI Department of Communications and Marketing, 401-874-2116.

BACKGROUND: The Current Conditions Index, created by Lardaro, measures the strength of the present economic climate in R.I. by following the behavior of 12 indicators.