It Doesn’t Have to Be This Way
Continuing grim news about the relative position of Rhode Island’s economy:
Rhode Island last month posted the second-highest unemployment rate in the country, after Michigan, according to a report out today by the U.S. Bureau of Labor Statistics.
Rhode Island’s unemployment rate last month was 7.2 percent; Michigan’s rate was 8.5 percent.
Rhode Island’s unemployment rate in May was at its highest since January 1994.
The New England unemployment rate rose 0.6 percentage point over the month to 5.1 percent, its highest rate since March 2004.
With Rhode Island and Michigan leading the recessionary pack, it’s tough to blame free market policies or Republicans. Unfortunately, it appears that too many people ’round here are invested (financially or ideologically) in our wrongheaded system for our leaders to do more than try to weather the storm, probably for several years to come.