AGP Executive Report
Last update: 8 hours agoLabor Market: Rhode Island’s unemployment rate fell to 3.7% in the third quarter, its lowest in nearly three years—but the drop reflects a shrinking workforce, not job growth. The number of residents with jobs fell for a fifth straight quarter, and labor-force participation hit a nine-quarter low. Corporate Relocation: Hasbro’s planned move from Pawtucket to Boston is drawing criticism after its CEO cited the region’s talent pool and lack of after-work dining options in Pawtucket. Economic Outlook: URI economist Leonard Lardaro sees signs the state is emerging from recession, with August retail sales up 4.2% year over year, manufacturing hours up 3.4% and homebuilding permits up 16.5%. Manufacturing Investment: Edesia Nutrition has expanded its Rhode Island factory, increasing capacity to produce therapeutic food for as many as 10 million children a year.
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