Good Jobs A-Goin’
It would be a shame if this leap-day story were to be washed away in the wave of cycling news:
Rhode Island employers last month shed an estimated 1,700 jobs and the state unemployment rate in January climbed to 5.7 percent, the highest since 1995, according to a government jobs report to be released today.
The state has lost 7,200 jobs during the last 13 months and ended last year with the first annual jobs decline since 2001 — the strongest signal yet, economists say, that Rhode Island is at the leading edge of a nationwide recession.
“The U.S. is beginning a recession and it looks like Rhode Island may have gotten a head start,” David A. Wyss, chief economist at Standard & Poors Corp. in New York, said yesterday.
Rhode Island’s unemployment rate last month climbed 0.5 percent, to 5.7 percent — compared with 4.9 percent nationwide — and the number of unemployed residents in the state hit 32,800, the largest number in more than a decade, according to the state Department of Labor and Training. …
“Rhode Island has been the weakest economy in New England for some time,” said Mark Zandi, chief economist of Moody’s Economy.com, “so I wouldn’t be surprised if it’s the first in recession.” …
Rhode Island’s latest job numbers released today surprised economists, who were unprepared for such a dramatic reversal. Rhode Island labor officials had previously reported that the state in 2007 gained 3,300 jobs, and now find that the revised data shows 5,200 jobs were lost. …
In Rhode Island, the revised data show that construction employment, which is closely tied to the housing market, suffered a bigger hit than originally thought. During the last 12 months, the state has lost 2,300 construction jobs, including 600 last month, according to the revised jobs data. Construction job losses now are almost as large as those in the long-declining manufacturing sector, where jobs fell 2,500 during the same 12-month period.
Hey, I’ve got an idea: let’s put forward legislation to attract masses of low-skilled illegal immigrants to our state. It’s the compassionate thing to do, after all.
Have you noticed, by the way, that RIFuture has come to be dominated by Obamamania? My impression is that they’re wagering that the charmant orator will draw an army of know-nothings to the polls to check the Democrat straight-ticket box, blissfully unaware of the massive damage that they are thereby doing to their state. A few You Tube videos with catchy music and famous people mouthing the syllables “oh-ba-ma,” and thousands more Rhode Islanders lose their jobs.