Projo Biz Blog

The Current Conditions Index, a measure of the state's economic health, was at its lowest possible level in March, pushed down by high unemployment and low retail sales.

The monthly index, created by University of Rhode Island Prof. Leonard Lardaro, measures 12 economic indicators including manufacturing wages and the size of the state's labor force. Its maximum value is 100, when all 12 indicators show improvement compared to the year before, and its lowest is 0, when no indicators show improvement.

It has only reached 0 four times since 1980, all during the current recession.

Lardaro's report, released Monday, cites the "very discouraging employment picture" that has seen the number of jobless residents who have used up their unemployment benefits spike by 59 percent. New jobless claims in March more than doubled, rising by 132 percent.

 Tags  economic indicators

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