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GoLocalProv | News | Rhode Island’s Economic Growth Stalls in Q4, Lags Region and Nation

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GoLocalProv | News | Rhode Island’s Economic Growth Stalls in Q4, Lags Region and Nation


Tuesday, January 31, 2023

 

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CHART: RIPEC

 

A brand new report from Bryant College and the Rhode Island Public Expenditure Council (RIPEC) claims that Rhode Island’s economic system lags the New England area and the USA in a number of indicators of financial development.

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The Rhode Island Key Efficiency Indicators (KPI) Briefing for the fourth quarter of 2022 was launched Tuesday. 

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The report discovered that after a number of quarters of financial development, Rhode Island’s unemployment fee elevated, however the state skilled no main adjustments within the remaining three of 4 key financial indicators. 

“Rhode Island’s economic system has improved over final yr, however we noticed little or no change— constructive or unfavourable—in most key financial indicators for the fourth quarter of 2022,” mentioned RIPEC President and CEO Michael DiBiase. “Whereas experiencing little change this quarter, Rhode Island’s financial trajectory continues to lag behind New England and the U.S., highlighting a necessity for the state to sharpen its deal with financial growth and enhancing the enterprise local weather.”

 

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RIPEC’s Michael DiBiase

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RI Has Not Recovered to Prepandemic Job Ranges

There have been 8,100 fewer Rhode Island-based jobs in This autumn 2022 than earlier than the pandemic. Rhode Island has regained 90.8% of all jobs misplaced — decrease than the New England area (91.7 % of jobs regained). The U.S. overtook its pre-pandemic stage of jobs in Q3 2022.

The variety of employed Rhode Islanders was up by 6,100 over pre-pandemic ranges, at the same time as employment fell by 1,900 (0.3%) in This autumn. The variety of unemployed Rhode Islanders elevated considerably, by 3,700 quarter-over-quarter, because the state’s labor drive participation fee marginally elevated (from 63.7 to 63.8%). Rhode Island’s unemployment fee of three.5% was up from 2.9% the earlier quarter and on par with the regional and nationwide fee.

Web gross sales tax receipts, an indicator of demand within the economic system, decreased barely by 0.5 % (seasonally adjusted) in This autumn.

In Q3 2022, Rhode Island’s Gross Home Product (GDP) elevated 1.8% (annualized). Each New England and the U.S. skilled considerably better will increase (2.7% and three.2%, respectively). GDP information from This autumn 2022 usually are not but accessible.

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  • RIPEC Proclaims 2019 Public Service Award Winners
  • Bestselling Writer Beschloss to Give Keynote Tackle at RIPEC’s Annual Assembly
  • RI’s Economic system Exhibits “Regular, Gradual Development” in Third Quarter, Says RIPEC-Bryant Report
  • RI Economic system Expands 2% in 4th Quarter of 2019, However Development Charge Lags—RIPEC Report
  • RIPEC’s Simmons Requires RI to Undertake MA Training Constructions
  • Why Woodward is a “Good Match” for RIPEC Annual Assembly: Simmons on LIVE
  • Bryant and RIPEC Knowledge Present RI’s Economic system on the Upswing
  • Bryant & RIPEC: “Power of the State’s Economic system Ought to Not Be Overstated”
  • Pollster Luntz Talks 4 Huge Points to Watch in 2018 – and Extra at RIPEC Annual Assembly
  • Bob Woodward to Give Keynote Tackle at RIPEC’s seventy fifth Annual Assembly
  • “Troubling Fairness Points” in Reopening of RI Public Faculties, Says RIPEC in New Report
  • RIPEC Acknowledges Karpinski and Fazioli
  • RIPEC Nominations for forty fifth Annual Public Service Awards Now Open
  • RIPEC Cautions Towards One-Time Spending in McKee’s FY23 Funds Proposal – and Future Deficits
  • 3,000 Extra Rhode Islanders Are Employed Now Than Earlier than the Pandemic, Says RIPEC
  • “Innovation, Alternative, Extra State Assist to Deprived Communities” – RIPEC’s “Street Map for Ed Reform”
  • RI Should “Resist Temptation” to Create New Packages With Federal Pandemic Aid Funds, Says RIPEC
  • RI League of Constitution Faculties: RIPEC Report on Public Constitution Faculties Confirms Inequity of Funding
  • “RI in A lot Weaker Place Than Earlier than Pandemic,” Says RIPEC in Third Quarter Report
  • Present and Former RIPEC Heads at Odds: One Says Tax Rhode Island Wealthy Extra, Different Says Don’t
  • RI Probably Going through Over $500M Deficit For Subsequent Fiscal 12 months, In accordance with RIPEC Report
  • RI Trails Area in Restoration Says New RIPEC Report
  • RI’s Economic system Continues to Enhance, However Employment Development Slows in Q3, Says RIPEC

 

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Rhode Island

Dreary final weekend of 2024 may start with some icy spots | ABC6

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Dreary final weekend of 2024 may start with some icy spots | ABC6


We likely won’t see much of the sun for the remainder on 2024, certainly not the final weekend of the year!

Clouds are increasing tonight ahead of the next storm system. As temperatures fall below freezing overnight, we’ll be watching for the possibility of freezing rain early Saturday morning.

This could lead to a glaze of ice on roads, driveways and sidewalks. Areas north and west of 295 are the most likely trouble spots, but we could even see areas south and east of this get some.

Temperatures will quickly rise well-above freezing by 10am and will see just plain rain showers, with otherwise cloudy skies.

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Sunday morning will be showery as well. We catch a small break Sunday afternoon, but late Sunday night, rain returns and gets heavier into Monday.

The sun makes its final appearance of 2024 on New Year’s Eve Tuesday before yet another round of rain shortly after ball drop into New Year’s Day.

Colder air then builds in for the end of the week, as the beginning of January looks very cold across the Northeast.





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Rhode Island

2 killed, 1 injured in Christmas Eve head-on crash in Foster, RI

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2 killed, 1 injured in Christmas Eve head-on crash in Foster, RI


Two people were killed and another injured in a head-on crash in Foster, Rhode Island, on Christmas Eve.

Police tell NBC10 Boston affiliate WJAR that they responded to the crash around 3:10 p.m. Tuesday on Hartford Pike and found two vehicles in the eastbound lane with heavy front-end damage, as well as three people with serious injuries.

An investigation shows one vehicle was traveling westbound when it crossed over into the eastbound lane in an attempt to pass several other cars, and struck another vehicle head-on, according to WJAR.

The driver of the first vehicle — identified as Aaron McCrory, of Danielson, Connecticut — was taken to Rhode Island Hospital where he was pronounced dead, WJAR reports. A passenger in the second vehicle — identified as Sandi Brooks, of Vernon, Conn. — was also taken to Rhode Island Hospital where she died from her injuries.

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The driver of the second vehicle was injured in the crash and taken to Rhode Island Hospital where they are in stable condition, police tell WJAR.

Further details about the crash have not been released.



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Rhode Island

Woman dies in Rhode Island car crash 1 month after husband of 58 years died unexpectedly

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Woman dies in Rhode Island car crash 1 month after husband of 58 years died unexpectedly


Two people are dead and another injured after a vehicle collision on Tuesday in Rhode Island.

Crews responded to the area of 212 Hartford Pike in Foster at approximately 3:15 p.m. for a two-car head-on crash with one occupant still trapped in the vehicle and not breathing.

According to WJAR 10, a vehicle traveling westbound crossed over into the eastbound lane attempting to pass several vehicles.

The operator of the passing vehicle, 34-year-old Aaron McCrory of Danielson, Connecticut, was brought to Rhode Island Hospital where he was pronounced deceased.

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The passenger of the second vehicle, 81-year-old Sandi Brooks of Vernon, Connecticut, was also transported to Rhode Island Hospital where she was pronounced deceased.

The driver of the second vehicle is in stable condition at Rhode Island Hospital.

82-year-old Neil Brooks, who was married to Sandi for 58 years, passed away suddenly on Wednesday, November 27, 2024.

While the crash was a terrible tragedy, we can hope that Neil and Sandi are together again.

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