{"id":110103,"date":"2026-08-04T17:56:03","date_gmt":"2026-08-04T17:56:03","guid":{"rendered":"https:\/\/www.uri.edu\/news\/?p=110103"},"modified":"2026-08-04T17:56:04","modified_gmt":"2026-08-04T17:56:04","slug":"rhode-islands-recession-may-have-ended-says-uri-economist","status":"publish","type":"post","link":"https:\/\/www.uri.edu\/news\/2026\/08\/rhode-islands-recession-may-have-ended-says-uri-economist\/","title":{"rendered":"Rhode Island\u2019s recession may have ended, says URI economist"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>WHAT:<\/strong> Rhode Island\u2019s economic performance for June offers a glimmer of hope that the state\u2019s recession may have ended, according to University of Rhode Island economist Leonard Lardaro. June\u2019s Current Conditions Index value, of 58, not only improved from June\u2019s 50 but it\u2019s also the highest CCI recorded this year.&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It was also the third time in the last four months that a monthly CCI showed at least 50, which is a neutral value, or better\u2014above 50 is expansion and below is contraction. Those indexes reflect \u201csome upward momentum,\u201d Lardaro said, and that Rhode Island is in the early stages of economic recovery.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Seven of the CCI\u2019s 12 economic indicators improved in June relative to a year ago, and June\u2019s CCI of 58 also matches the index from July 2025.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Retail Sales, a critical economic indicator that has been a strength through almost the entire post-pandemic period, grew by 11.8% in June. Total Manufacturing Hours continued its growth, increasing by 6.6%. Manufacturing Wage also grew by 2.6%\u2014showing increases in back-to-back months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Benefits Exhaustion, which indicates long-term unemployment, decreased by 6.1%\u2014improving for the fifth time in the last six months. Single-Unit Permits, related to new home construction, rose in June by 50.6%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Unemployment Rate dropped by 0.2% in June, however Lardaro says data revisions in February are needed to see a more accurate picture on the true rate.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Employment Service Jobs, a leading labor market indicator, improved for the first time in more than a year, increasing by 1.1%. U.S. Consumer Sentiment continued its consistent monthly declines, dropping by 18.5%, Lardaro says.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Government Employment also fell by 1.8%, attributed to declines in federal government employment, Lardaro says, while Private Service-Producing Employment, a proxy for service-sector employment, dropped in June by 0.4%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>HOW:<\/strong> Use attached information, including summary and charts prepared by Lardaro for news reports. He is available for broadcast and print interviews. Lardaro will be blogging about the new labor data during the coming weeks.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>WHEN: Aug. 4, 2026<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>FOR INFORMATION:<\/strong> Leonard Lardaro, office, 401-874-4128, home, 401-783-9563; James Bessette, URI Department of Communications and Marketing, 401-874-3520, james.bessette@uri.edu.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>BACKGROUND:<\/strong> The Current Conditions Index, created by Lardaro, measures the strength of the present economic climate in Rhode Island by following the behavior of 12 indicators.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>WHAT: Rhode Island\u2019s economic performance for June offers a glimmer of hope that the state\u2019s recession may have ended, according to University of Rhode Island economist Leonard Lardaro. June\u2019s Current Conditions Index value, of 58, not only improved from June\u2019s 50 but it\u2019s also the highest CCI recorded this year.&nbsp;&nbsp; It was also the third [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[12,1905],"class_list":["post-110103","post","type-post","status-publish","format-standard","hentry","category-archives","tag-college-of-arts-and-sciences","tag-research"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/110103","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/comments?post=110103"}],"version-history":[{"count":1,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/110103\/revisions"}],"predecessor-version":[{"id":110104,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/posts\/110103\/revisions\/110104"}],"wp:attachment":[{"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/media?parent=110103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/categories?post=110103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uri.edu\/news\/wp-json\/wp\/v2\/tags?post=110103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}