Jobs & Opportunity Index (JOI), September 2019: Hanging on While the Country Advances
As the third quarter of 2019 came to a close, Rhode Island still held its overall ranking of 47th in the country on the Rhode Island Center for Freedom & Prosperity’s Jobs & Opportunity Index (JOI) but was basically tied with 48th place Louisiana. Data for all 12 datapoints of the index except federal taxes were updated for this iteration, and RI benefited by the fact that it was finally able to report data for SNAP (foodstamps), which it had not done for two-and-a-half years thanks to the UHIP debacle.
Compared with June, RI improved on most measures. Employment and labor force were up about 0.6% since the first-reported numbers for June, with RI-based jobs increasing a more-modest 0.3%. Correspondingly, Medicaid enrollment fell 0.8%, while TANF (cash welfare) rolls shrank by 8.0%. SNAP enrollment was down 4.0%, although that is from the number as reported ever since February 2017. The Ocean State had 2.3% fewer residents who counted as long-term unemployed and 3.8% fewer who were working only part time because more work was not available. However, the number counting as marginally attached increased 23.7%.
The picture is also mixed when it comes to money. Personal income was up 3.9% on an annualized basis, which amounted to $1.8 billion more income. However, state and local taxation increased 10.5%, or $349 million, resulting not only from the increased income, but also expansive changes to tax policy.
The first chart shows RI remaining last in New England on JOI, at 47th for September 2019. New Hampshire returned to 1st nationally. Vermont and Maine slipped, to 14th and 19th, respectively. Massachusetts remained 37th. However, Connecticut advanced to 38th.
The second chart shows the gaps between RI and New England and the United States on JOI for September 2019, and the third chart shows the gaps in the official unemployment rate.
Results for the three underlying Jobs & Opportunity Index factors were:
- Job Outlook Factor (optimism that adequate work is available): RI fell three spots, to 32nd.
- Freedom Factor (the level of work against reliance on welfare programs): RI advanced two, to 41st.
- Prosperity Factor (the financial motivation of income versus taxes): RI remained 47th.
Click here for the corresponding employment post on the Ocean State Current.