Jobs & Opportunity Index (JOI), February 2018 Slow and Steady Stays in Place

As 2018 got its footing in February, Rhode Island’s ranking on the RI Center for Freedom & Prosperity’s Jobs & Opportunity Index (JOI) moved not at all, remaining 47th. Although six of the seven datapoints that changed for this iteration were positive, they were apparently driven by national trends that affected other states, as well. Rhode Island’s relative position therefore stayed the same.

Employment was up from the first-reported number for January, by 528, while labor force was up 738. RI-based jobs increased by 1,200. SNAP (food stamps) also improved, with a reduction of 4,288 enrollees, although complications with the state’s Unified Health Infrastructure Project (UHIP) may be affecting this datapoint for technical reasons unrelated to the economy.

Total personal income in Rhode Island (including various forms of investment) increased 1.95%, or $852 million. However, total state and local taxation increased 2.11%, or $69 million.

The first chart shows Rhode Island still in the last position in New England, 47th in the country. Regional leader New Hampshire is still in 2nd place, nationally, behind Wyoming, and Maine held its 18th position. Vermont regained the spot it lost last month, returning to 20th. Massachusetts held on to its position of 33rd, while Connecticut’s descent paused at 43rd.

The second chart shows the gap between RI and New England and the United States on JOI. In both cases, the Ocean State closed the gap a little. On the official unemployment rate, RI again lost ground against both regions.

Results for the three underlying JOI factors were:

• Job Outlook Factor (optimism that adequate work is available): RI held on to 18th.
• Freedom Factor (the level of work against reliance on welfare programs): RI remained 41st.
• Prosperity Factor (the financial motivation of income versus taxes): RI remained 47th.