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Providence
Monday, October 19, 2020

Economic Activity

PANDEMIC UNEMPLOYMENT ASSISTANCE filings totaled 7,532 last week. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING

R.I. weekly PUA filings dip to 7.5K

PROVIDENCE – Pandemic unemployment-assistance filings in Rhode Island increased by 7,532 last week, to 303,435, according to the R.I. Department of Labor and Training. PUA...
FED CHAIR Jerome Powell said that the economy's recovery from the COVID-19 pandemic may falter without further aid in a speech to the National Association for Business Economics. / AP FILE PHOTO/BILL O'LEARY/THE WASHINGTON POST

Fed’s Powell: Lack of further stimulus imperils recovery

WASHINGTON (AP) – Strong financial support from the government and the Federal Reserve have spurred a solid recovery from the pandemic recession, but the...

UNFI signs agreement to become wholesaler for Key Food supermarkets

PROVIDENCE – United Natural Foods Inc. has reached a long-term supply agreement with Key Food Stores Co-Operative, the company announced on Tuesday. The deal is...
THE U.S. TRADE DEFICIT rose in August to the highest level in 14 years. The Commerce Department reported Tuesday that the gap between the goods and services the United States sells and what it buys abroad climbed 5.9% in August to $67.1 billion. / AP FILE PHOTO/ TED S. WARREN

U.S. trade deficit up to $67.1B in August, 14-year high

WASHINGTON (AP) – The United States trade deficit rose in August to the highest level in 14 years. The Commerce Department reported Tuesday that the...

Gas prices tick down 1 cent in R.I., Mass.

PROVIDENCE – The average price of self-serve, regular unleaded gasoline in Rhode Island declined 1 cent week to week to $2.13 per gallon, 6...

Survey: Business economists see coronavirus resurgence as biggest risk

WASHINGTON (AP) – The United States economy faces risks from a potential resurgence of the coronavirus and from the failure so far of Congress...
COLLECTIONS of the local 1% hotel and meal and beverage taxes in July declined 32.4% and 23.4% year over year, respectively. / PBN FILE PHOTO/MARY MACDONALD

Local 1% meal and beverage, hotel tax collections decline 33% Y/Y...

PROVIDENCE – Collection of the Local 1% Meal and Beverage and Hotel taxes declined by nearly 33% year over year in July, amid the...

Providence City Council looks to expand authority over tax breaks to...

PROVIDENCE – After failed attempts to remove politics from the city’s process for giving tax breaks to developers, the Providence City Council appears to...

R.I. GDP declines at annualized 32.4% in Q2

PROVIDENCE – Rhode Island’s gross domestic product declined at an annual rate of 32.4% in the second quarter, seasonally adjusted, the Bureau of Economic...

U.S. hiring slows for 3rd month but jobless rate falls to...

WASHINGTON (AP) – America’s employers added 661,000 jobs in September, the third straight month of slower hiring and evidence from the final jobs report...

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