Watch: The 5 charts you need to see to get RI’s jobs crisis

January 23rd, 2014 at 3:31 pm by under Nesi's Notes, On the Main Site

Rhode Island’s latest jobs report was released Thursday, and the numbers were ugly: unemployment ticked up to 9.1% in December and the labor force shrank again; in addition, 1,500 jobs were lost. It’s possible some of the numbers will be revised in a more positive direction, but the recovery is clearly disappointing.

Shortly before the new numbers came out, we taped a segment for next weekend’s Executive Suite where I break down why Rhode Island’s employment situation is so discouraging. Since the topic is timely, I thought I’d share it now. Watch and leave your reaction:

Tags: , , , , , , , , , ,

4 Responses to “Watch: The 5 charts you need to see to get RI’s jobs crisis”

  1. Bob says:

    banning assault weapons will fix this right up.
    seriously, right to work, banning public unions and lowering taxes is only solution.

  2. Frymaster says:

    There’s no doubting the numbers, that’s for sure. But since this piece is basically smell-testing the Gov’s SOTS, I think it would have been fair of you to indicate on all these charts when Chafee took over.

    Of all the charts, I think the juice is in the comparison with MA. It’s really stunning and could be an entire discussion in itself.

    - We entered recession 5 quarters before MA. Why?
    - Our net loss was a little less than double their. Why?
    - Their pace of recovery looks roughly twice as steep as ours. Why?

    I was just parsing the Politico state of the states rankings and was surprised to see RI 45th in home ownership. I’ll admit it’s sketchy to indicate a causality, but is it possible that the mid-2000s spike in jobs was that RI went a little insane in the real estate boom? I think the losses in construction jobs will show there’s something to that thinking.

    Put another way, it’s unlikely that RI – like Nevada which shares our fate – will recover back to those levels because they were essentially bubble driven.

  3. [...] Our own Frymaster made a good point in the comments of Ted Nesi’s blog: [...]

  4. [...] rate is 9.1%, once again the highest in the nation. And as I suggested in last week’s Executive Suite segment on the jobs crisis, the situation is arguably even worse than that. Consider this: the number of unemployed Rhode [...]