Economic Indicators and RIPEC’s Public Service Awards highlight this month’s agenda.
RIPEC on Public Policy
- RIPEC released its Key Performance Indicators (KPI) quarterly briefing which signaled warning signs for the future of Rhode Island’s economy. RIPEC President & CEO Michael DiBiase commented that Rhode Island’s “economy has been growing over the last several years, but recently growth has stalled out.” The KPI cites Rhode Island’s sluggish GDP growth and its struggle to recover jobs lost during the pandemic compared to both the nation and region, which have fully regained lost jobs.
- Providence Business News, “RIPEC, Bryant Report: R.I. economic growth shows signs it stalled in Q2.”
- Rhode Island Current, “What’s with RI jobs data?”
Inside Insights
- The Bureau of Labor Statistics reported that the nation’s unemployment rate rose to 3.8 percent in August from 3.5 percent in July, even while the U.S. added 187,000 jobs. The news is not necessarily a sign of concern since the rise can be attributed to an increase in labor force participation.
- The Consumer Price Index (CPI), a key measure of inflation, rose 3.2 percent from a year ago in July, slightly below expectations but still historically high, and well above the 2.0 percent level the Federal Reserve is aiming for.
What to Look for in September
- Here’s your chance to shine a light on Rhode Islanders who have made outstanding contributions to public service. RIPEC is seeking nominations for its 47th Annual Public Service Awards recognizing outstanding local and state employees. The nomination deadline is next Friday, September 15.
- With schools newly back in session for the 2023-2024 school year, Governor Dan McKee and the Rhode Island Department of Education are letting students know that they “can only succeed if they show up” for school with a Cool2BeinSchooRI campaign—the state has seen a dramatic uptick in its rates of chronic absenteeism since the pandemic, with over a third of students chronically absent in the 2021-2022 school year.
