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URI Economist: Rhode Island Still Floundering

 
URI Economist: Rhode Island Still Floundering

NewsRadio 920 WHJJ and the Associated Press

PROVIDENCE, R.I. (AP) — A University of Rhode Island professor says the state's economy had a disappointing performance in June — and so far this year — according to his monthly analysis.

Leonard Lardaro said Tuesday that only six of 12 indicators he tracks each month in his "Current Conditions Index" improved. The index level fell to a "neutral" value of 50, from 67 in May.

For the 11th straight month, the index failed to improve from its value a year earlier.

Lardaro says it's an understatement to call the state's overall economic performance disappointing this year. He says it's perplexing the state is continuing to flounder while the national economy is improving.

Rhode Island's unemployment rate was 7.9 percent in June, the lowest since 2008. That's tied for worst in the U.S.

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