Jobs & Opportunity Index (JOI), May 2018: What There Is Is Positive

Although Rhode Island remained in 47th place on the RI Center for Freedom & Prosperity’s Jobs & Opportunity Index (JOI), the four (of 12) datapoints that were updated for the May report were positive. Unfortunately, one datapoint was not updated for Rhode Island even though it was updated for every other state. The latest SNAP (foodstamp) table from the federal Food and Nutrition Service added a new footnote highlighting that “system reporting issues” have meant no new RI numbers since January 2017.

Turning to the numbers that are available: Employment was up from the first-reported number for April, by 1,489, while labor force was up 1,117. RI-based jobs increased, as well, by 1,000. Medicaid enrollment improved from the previously reported number, with a decrease of 1,281.

The first chart right shows RI still in the last position in New England, 47th in the country. Regional leader New Hampshire is still in 2nd place, nationally, behind Wyoming. Maine made progress toward the nation’s top 10, up two steps to 15th, while Vermont remained in 21st place. Massachusetts managed to return to the 34th slot that it had lost last month. Meanwhile, Connecticut held on to 37th.

The second chart shows the gap between RI and New England and the United States on Jobs & Opportunity Index May 2018. In both cases, the Ocean State gained a little ground. The same was true of the official unemployment rate, shown in the third chart.

Results for the three underlying Jobs & Opportunity Index May 2018 factors were:

• Job Outlook Factor (optimism that adequate work is available): RI improved one place, to 22nd.
• Freedom Factor (the level of work against reliance on welfare programs): RI remained 42nd.
• Prosperity Factor (the financial motivation of income versus taxes): RI remained 47th.

Click here for the corresponding employment post on the Ocean State Current.