Rhode Island’s Lack of Business, As Usual

The Phoenix Business Journal, reporting on research done at the JPMorgan Chase Economic Outlook Center at Arizona State University, has Rhode Island holding down its familiar place on a pair of economic indicator lists.
Rhode Island leads the country in jobs lost for the year preceding July 2008…

Arizona ranked second to last for job growth, or more accurately job loss, in a tally of state activity from July 2007 to July 2008.
Arizona posted a 1.6 percent loss for the period, ahead of only Rhode Island with a 2.8 percent decline in jobs, according to the latest issue of the Western Blue Chip Economic Forecast. In all, 19 states posted job losses.
Wyoming came out on top with a 2.5 percent gain. Rounding out the top five were Texas, Louisiana, Colorado and South Dakota
…and Rhode Island’s sales tax collections shrank more in 2007 than did any other state’s…
Arizona ranked 14th among states for gains in sales tax collections last year with a 5.8 percent increase over 2006.
Idaho topped this list at 14.1 percent, while Rhode Island came in at No. 50 with a 3 percent contraction. The average gain was 3.9 percent, well below the 6.5 percent recorded in the previous year, according to the ranking published in the latest Western Blue Chip Economic Forecast based on U.S. Census Bureau data.
The full job-growth report is available, behind a paid subscription wall, here.

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Greg
Greg
13 years ago

YAY!
We’re number one!
We’re number one!
We’re number one!

Ragin' Rhode Islander
Ragin' Rhode Islander
13 years ago

-daho topped this list at 14.1 percent, while Rhode Island came in at No. 50 with a 3 percent contraction.
Hah!
The predictable effect of making Rhode Island’s sales tax rate 49% higher than neighboring Massachusetts, which also has an annual sates tax holiday, meaning that one has to be a moron to patronize Rhode Island retailers – and
The predictable effect of being the only New England state in recession – which is
The predictable effect of state economic policies making Rhode Island one of the most employer hostile states in the country while also making it one of the most welfare-queen friendly states in the country – all of which is
The predictable effect of decades of electing corrupt and imbecilic maroons, i.e., union-lackey Democrats, to run this state out of that den on iniquity called the “Rhode Island General Assembly.”
Bridges aren’t the only things collapsing in Rhode Island. Maybe Barnes and Noble will donate a copy of “Atlas Shrugged” to each member-moron of the General Assembly, so that they can have a preview of where this is all going.

Mike
Mike
13 years ago

I know, I know-
We’ll raise the sales tax EVEN MORE and call it the “Economic Growth and Fairness Act of 2009”.
…and Rhode Island’s sales tax collections shrank more in 2007 than did any other state’s…
Arizona ranked 14th among states for gains in sales tax collections last year with a 5.8 percent increase over 2006.
Idaho topped this list at 14.1 percent, while Rhode Island came in at No. 50 with a 3 percent contraction.
“The chickens have come home…………………………………………………………………………………………………………………………………………………………………..
to roost”
Reverend Wright

Monique
Editor
13 years ago

You read my mind, Mike. After all this, Art Handy may still be lurking out there, ready to once again put forward his (Justin, I’m forwarding you a royalty check) Economic Death and Dismemberment bill.
What we need to get us out of this jam is more taxes! Yeah!

George Elbow
George Elbow
13 years ago

Sales tax receipts are down.
Gambling receipts are down.
Income tax receipts are down.
Do you think some day people will figure out that theare are NO guarantees …be it in Sales tax receipts, Gambling receipts, Income tax receipts, Pension Fund returns, etc., and therefore we must:
1) build a Cost structure that is flexible, Sustainable and a reflection of Taxpayer’s affordibility, and
2) stop providing Guaranteed benefits of which the funding is dependent upon returns (woops, sorry Andrew, “compound interest”) that are NOT guaranteed

John
John
13 years ago

When it comes to restructuring RI’s bloated spending, our social programs should be target number one. Perhaps Crowley or the folks from the Poverty Institute would care to comment on Steve Malanga’s latest piece: “September 10, 2008 In America, The Poor Don’t Work Steven Malanga Declaring that it’s becoming “easier to fall into poverty” in America, Barack Obama has laid out an anti-poverty agenda that includes raising the minimum wage, increasing tax credits for low-income wage earners, and enacting legislation to make it easier for workers to start unions. John McCain would attack poverty by cutting taxes to stimulate the economy and boost opportunity throughout the workforce. Although their agendas are starkly different, both men make the same fundamental mistake. They declare that labor-force solutions, like higher wages or creating better jobs, will significantly reduce poverty America. But that won’t happen because the vast majority of the impoverished in America don’t work and wouldn’t even if we raised wages or created more jobs. They are in poverty because of social or physical problems or choices in life they’ve made which make it difficult or impossible for them to work. Some have simply chosen not to work. It’s not that our economy doesn’t work for most of the poor, but that most of the poor don’t work. Obama and McCain can be excused for not addressing poverty’s real causes because rarely anyone else in public life ever does, including not only politicians but most reporters and editors who regularly cover the issue. When the Census Bureau released its latest figures on poverty in late August, on the day before Obama addressed the Democratic National Convention, the press’s reaction was superficial and predictable: “Poverty Rate Reflects Stalled Economy,” began a piece on National Public Radio, even though a close look at economic… Read more »

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