Marching Toward the Bottom with 10.3% Unemployment
Anyone heard hints of budget and economic-policy progress in the General Assembly? I ask because Rhode Island’s unemployment rate is now at 10.3%:
The unemployment rate in January spiked by nearly a full percentage point over the revised December figure of 9.4 percent. It has ballooned by four percentage points since January 2008. (Earlier, the state estimated a 10-percent unemployment rate for December based on a survey of businesses. That rate was recalculated through the annual review of payroll tax filings.)
Nationally, unemployment increased to 7.6 percent from 7.2 percent in January. The national rate for February is due on Friday.
Cut taxes (and spending). Erase regulations. Build infrastructure. Standing around in State House back rooms like frozen deer just isn’t sufficient.