Rhode Island

GoLocalProv | Business | URI Economist Says “Evidence of Some Slowing” in RI’s Economy

Published

3 years ago

June 12, 2022

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GoLocalProv | Business | URI Economist Says “Evidence of Some Slowing” in RI’s Economy

Sunday, June 12, 2022

Leonard Lardaro, College of RI Economist

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URI Economist Len Lardaro PHOTO: URI

Whereas Rhode Island’s financial system continued its enlargement (restoration) in April, it’s clear that some areas of our state’s financial system have begun to sluggish. A part of that is statistical — the “comps” from a yr in the past have now turn out to be tougher.

Nevertheless, Rhode Island’s hyperlinks to the nationwide financial system are additionally important to its total financial efficiency, and to some extent what we’re starting to see is nationwide weak spot already impacting us, which is kind of seemingly the FI from FILO doubtlessly taking maintain. Whereas final month I famous that 9 of twelve bettering indicators displayed wholesome progress charges, the story for April is a bit completely different: A number of of the indications that failed to enhance had very giant declines, most notably US Shopper Sentiment and Single-Unit Permits, and their weak spot is turning into extra persistent. Permits, which mirror new house development have now declined for 4 consecutive months. Ought to this persist, it would start to adversely have an effect on what has been the “star” CCI performer, Retail Gross sales. A bit extra worrisome, however truly typical for Rhode Island, is that annual adjustments in our state’s Labor Power, excluding a few months, have turn out to be flat. However, in fact, that has all the time been Rhode Island’s “secret sauce” for low Unemployment Charges.

For these naïve sufficient to consider our state’s jobless price is an correct reflection of the efficiency of our financial system, that price fell all the way in which to three.2 % in April. For these much less naïve, when Labor Power participation is taken into consideration, the extra correct Unemployment Fee, the participation adjusted price was 5.5 % for April, which fell from 5.8 % in March.

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Just like the US, layoffs right here have fallen dramatically, not simply from the pandemic highs however from the extra typical values of the previous few months, as corporations experiencing issue hiring or discovering replacements have laid off fewer individuals than could be justified by financial situations. New Claims fell 88.5 % versus final April (“labor hoarding”).

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For April, solely two of the 5 main indicators contained within the CCI improved, and each exceeded tough comps. Whole Manufacturing Hours, a proxy for manufacturing output, rose by a wholesome 5 %, as each weekly hours and employment rose as soon as once more. New Claims, as mentioned above, additionally improved dramatically. A glimmer of future hope was proven by the Month-to-month CCI, which attained its highest worth in fairly some time, 92, as eleven of the twelve indicators improved relative to March. Ought to such month-to-month power persist, Rhode Island may see much less of a draw back to its financial exercise within the coming months, though it’s far too early to inform. The query stays as as to if Rhode Island will resume its FILO standing because the nationwide financial system weakens. If that’s the case, Rhode Island’s financial system may start to sluggish meaningfully by mid to late 2023.

Retail Gross sales, which has been the star performer within the CCI, elevated by 10.8 % in April, returning to a double-digit rise after two sub-par months. Weak point in housing and shopper confidence, together with a slowing nationwide financial system, might effectively trigger this indicator to falter as we transfer additional into 2022.

Of the main indicators contained within the CCI, my biggest concern continues to be Employment Service Jobs, a number one employment indicator that features temps, which registered a fourth consecutive decline in April (-5.2%). Together with all the inflation issues we’re experiencing, US Shopper Sentiment will very more likely to proceed its decline all through most, if not all, of 2022.

To finish on a vivid word, Personal Service-Producing Employment, which displays non-government, non-manufacturing employment, has managed to maintain robust progress, whilst we transfer previous the artificially low employment ranges of the pandemic.

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Rhode Island

Newport crews extinguish house fire | ABC6

Published

7 hours ago

December 25, 2024

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Newport crews extinguish house fire | ABC6

Newport crews extinguished a fire on Green Street on Dec. 24. (WLNE)

NEWPORT, RI (WLNE) — The Newport Police Department said crews extinguished a fire on Green Street on Tuesday afternoon.

Around 2:22 p.m. Newport police were notified by the fire department of smoke coming from the basement of a home.

On the scene, crews reported a working fire, which was later extinguished.

Officials said the residents of the home were safety evacuated.

There are no reported injuries, according to police.

The cause of the fire, as well as where or how it started is under investigation.

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Rhode Island

RI Lottery Mega Millions, Lucky For Life winning numbers for Dec. 24, 2024

Published

15 hours ago

December 25, 2024

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The Rhode Island Lottery offers multiple draw games for those aiming to win big. Here’s a look at Dec. 24, 2024, results for each game:

Winning Mega Millions numbers from Dec. 24 drawing

11-14-38-45-46, Mega Ball: 03, Megaplier: 3

Check Mega Millions payouts and previous drawings here.

Winning Lucky For Life numbers from Dec. 24 drawing

16-22-24-43-47, Lucky Ball: 11

Check Lucky For Life payouts and previous drawings here.

Winning Numbers numbers from Dec. 24 drawing

Midday: 0-9-5-1

Evening: 2-0-2-3

Check Numbers payouts and previous drawings here.

Winning Wild Money numbers from Dec. 24 drawing

08-21-26-33-38, Extra: 36

Check Wild Money payouts and previous drawings here.

Feeling lucky? Explore the latest lottery news & results

Are you a winner? Here’s how to claim your prize

Prizes less than $600 can be claimed at any Rhode Island Lottery Retailer. Prizes of $600 and above must be claimed at Lottery Headquarters, 1425 Pontiac Ave., Cranston, Rhode Island 02920.
Mega Millions and Powerball jackpot winners can decide on cash or annuity payment within 60 days after becoming entitled to the prize. The annuitized prize shall be paid in 30 graduated annual installments.
Winners of the Lucky for Life top prize of $1,000 a day for life and second prize of $25,000 a year for life can decide to collect the prize for a minimum of 20 years or take a lump sum cash payment.

When are the Rhode Island Lottery drawings held?

Powerball: 10:59 p.m. ET on Monday, Wednesday, and Saturday.
Mega Millions: 11:00 p.m. ET on Tuesday and Friday.
Lucky for Life: 10:30 p.m. ET daily.
Numbers (Midday): 1:30 p.m. ET daily.
Numbers (Evening): 7:29 p.m. ET daily.
Wild Money: 7:29 p.m. ET on Tuesday, Thursday and Saturday.

This results page was generated automatically using information from TinBu and a template written and reviewed by a Rhode Island editor. You can send feedback using this form.

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Rhode Island

When will Santa Claus be in RI? Follow the 2024 Santa Trackers from NORAD and Google

Published

23 hours ago

December 24, 2024

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When will Santa Claus be in RI? Follow the 2024 Santa Trackers from NORAD and Google

It was the night before Christmas and all through the house, the children were wondering where’s that guy Claus?

If you’re looking to track Santa Claus’s flight over Providence and Rhode Island’s other cities and towns this Christmas Eve, there are a few ways you can track the big guy with nearly the same accuracy as a late Amazon package.

The military is on it with the NORAD Santa Tracker, and Google, which often feels all-knowing, is also on the case with its own Santa Tracker.

Check out the trackers to see Santa’s location:

See Santa’s location with the NORAD Santa Tracker

NORAD is the most reliable name in Santa tracking. On the job since 1955, when a young child from Colorado Springs accidentally called in (he meant to call a number advertised by a local department store), they’ve been following Santa’s journey using their radar technology ever since.

Now, NORAD, the joint U.S.-Canada command responsible for protecting the skies over both nations, staffs up for the big night, with a number available for children to call for status reports and an online tracker.

When does the NORAD Santa Tracker start?

On Christmas Eve, Dec. 24, of course.

How do I follow Santa’s journey with the NORAD tracker?

Santa is on the move, as you can see below. If it doesn’t load, it can be found at www.noradsanta.org

You can also call NORAD directly at +1 (877) HI-NORAD.

See Santa’s location on the Google Santa Tracker

In 2004, Google started tracking Santa as well, because, well, there’s a lot of interest in Old St. Nick. Google has a website. While you’re waiting around for Santa, Google’s guide includes a family guide, quizzes and various Christmas-themed games to play.

Why might the NORAD Santa Tracker and Google Santa Tracker disagree?

All of our tracking technology is made for mere mortals, but Santa is magic, and he likes to create a little bit of mystery. It wouldn’t do for children all over the world to be catching him as he comes down the chimney to deliver presents. He would never get any work done! So sometimes, to keep the magic alive, he throws off the trackers, just a little bit.

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