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With the drop of Rhode Island’s unemployment rate in July to 7.7 percent, the state no longer claimed the highest jobless rate in the country for the first time since October, the U.S. Bureau of Labor Statistics reported Monday. more
Foreclosures in the Providence-Warwick metro area represented 1.78 percent of all mortgages for the month of June, compared with 2.35 percent for the same month last year, according to data released Wednesday by CoreLogic. more
Bank of America Corp. must set aside $490 million of its Aug. 21 $16.7 billion settlement to cover taxes that borrowers face on forgiven mortgage debt - a step taken by the Justice Department to give homeowners relief that Congress has failed to provide. more
U.S. stocks rose, sending the Standard & Poor’s 500 Index above 2,000 for the first time, on signs of more corporate takeovers and stimulus for the European economy. more
Citing a number of concerns, including community opposition to the location of large wind turbines near the city’s Point neighborhood, the U.S. Navy has shelved its proposed wind energy project in Newport. more
Restaurants and lodging outlets in Rhode Island are expected to continue the slow, steady growth that has characterized those industries since the Great Recession, according to speakers at the Rhode Island Hospitality Association’s annual Economic Outlook Breakfast. more
The U.S. budget deficit will narrow less than forecast this year even as it falls to the lowest level since 2007 as a share of the economy, according to the Congressional Budget Office. more
Keeping its streak of year-over-year passenger traffic declines intact, T.F. Green Airport posted a 3 percent drop in July, as 346,416 people traveled to and from the state’s largest airport. more
The Providence-Fall River-Warwick metro area added 500 construction jobs in July when compared with July 2013, a 2.3 percent gain for a total of 22,400, according to non-seasonally adjusted figures published by the Associated General Contractors of America Wednesday. more
The economy in the United States expanded more than previously forecast in the second quarter, propelled by the biggest gain in business investment in more than two years that bodes well for the rest of 2014. more
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