URI Economist Cautions Despite Positive Signs in Rhode Island Economy – Rhody Today

Leonard Lardaro is a Professor of Economics at the University of Rhode Island and the creator and author of the Current Conditions Index. He is eager for revised labor market data that will provide a fuller picture of Rhode Island’s economic progress. Lardaro believes that the existing data paints a somewhat disappointing picture with a December CCI of 58. However, some key indicators show improvement, including Government Employment, Private Service-Producing Employment, Total Manufacturing Hours, Manufacturing Wage, and Labor Force participation.

Lardaro is concerned about the weak improvement in Retail Sales, which was up only .02 percent, and the looming end of federal stimulus money. He expects this to make it more difficult to balance the state budget and potentially lead to an economic slowdown. Despite these concerns, the CCI remains in an expansion value.

Lardaro is available for broadcast and print interviews and will be blogging about the new labor data during the coming weeks. Additional information and historical data can be found online at http://www.llardaro.com/current.htm. Individuals can contact Leonard Lardaro at his office at 401-874-4128 or his home at 401-783-9563 for more information or to schedule an interview with him or Dawn Bergantino from the URI Department of Communications and Marketing can also be contacted at 401-874-4147 for media inquiries related to this topic.

By Editor

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