WHAT: The December Current Conditions Index (CCI) rose to 92 in December –up from 67 in November– to its highest value since June of 2018. There was a great deal of strength displayed among several CCI indicators, continuing several recent positive trends. Continued improvement in New Claims for Unemployment Insurance along with further increase in Employment Service Jobs, suggest higher employment and fewer layoffs in the coming months – both necessary to maintain if Rhode Island is going to sustain its momentum. Retail sales also rose at a double-digit rate, capping off a strong holiday shopping season.
WHO: URI Professor of Economics Leonard Lardaro, creator and author of the Current Conditions Index.
WHEN: February 10, 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.