WHAT: There was a pleasant surprise in June, as the Current Conditions Index rose to 75, tied for its highest value this year, compared to 58 for the previous three months. However, while several indicators showed improvements over where they had been earlier in the year, an equal number turned in weaker performances. Unfortunately, negatives remain far too present and several disturbing trends related to joblessness are continuing. The state’s Labor Force has failed to improve on either a monthly or yearly basis since January, while long term unemployment, as reflected by Benefits Exhaustions, has increased for five of the last seven months.
WHO: URI Professor of Economics Leonard Lardaro, creator and author of the Current Conditions Index.
WHEN: Embargoed until Monday, August 12, 2019 at 12:05 a.m.
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.