Rhode Island economist Leonard Lardaro is the creator and author of the Current Conditions Index, which measures the strength of the present economic climate in Rhode Island. In February, Lardaro expressed optimism about the state’s economic performance after the release of revised labor market data. The Current Conditions Index value improved from 58 in January to 67 in February, with eight of the 12 CCI indicators showing improvements.
Specifically, indicators such as Single-Unit Permits, Total Manufacturing Hours, Manufacturing Wage, and Government Employment showed strong improvements. Retail Sales, Private Service-Producing Employment, and U.S. Consumer Sentiment also demonstrated strength. Most significantly, Labor Force Participation increased for the seventh consecutive year in February, indicating positive momentum in the state’s economy.
Lardaro noted some concerns about the state’s ongoing labor market strength but suggested that the economy may be moving out of a slow phase that characterized much of the previous year. To learn more about the new labor data and the Current Conditions Index, refer to the information and charts provided by Lardaro for news reports. He is available for broadcast and print interviews and will be blogging about the new labor data in the coming weeks. Additional information and historical data can be found online at http://www.llardaro.com/current.htm
For more information about the Current Conditions Index and
