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Tuesday, October 28, 2008

Rhode Island jobs seem unlikely to recover before 2013


Rhode Island leads the nation in unemployment, with an 8.8 percent jobless rate as of September, and economists do not expect a full recovery until 2013. The state began the fiscal year in July with a $37 million deficit, and tax collections since then have fallen millions of dollars short of expectations. Rhode Island’s housing market continues to drag down the state economy with a foreclosure rate of 15 percent, the fourth-highest in the country.

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