If you want to know why our state's unemployment rate is and has been so high (#4 nationally), you need only consider its flip side -- employment. As my last post showed, employment here peaked in December of 2006 -- a full year before the US! So, a prolonged period of substantial employment declines (8% ultimately), created ever-rising unemployment rates.
A blog devoted to providing my perspectives on the Rhode Island economy that utilizes discussion, tables, graphs, and hyperlinks to illustrate key points and where I come a lot closer to saying what I really think than what I say to the general media. A DISCLAIMER: Everything in and on this Blog is solely attributable to me and bears no connection whatever to either the University of Rhode Island overall or the URI economics department.
Thursday, April 7, 2011
Why is RI's Unemployment Rate So High?
"The" question for Rhode Island -- how can your state's unemployment rate be so high for no obvious reason? For anyone who has observed (or lived through) the way things are done here, the reasons are obvious and numerous. However, a picture can often say a thousand words. Here's my picture (click to enlarge):
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