Unemployment: 10.8%
Total home vacancy: 10.7%
State GDP per capita: $41,816
Key reduction:benefits recalculated, payoffs now average $100 less
Rhode Island has silently crept up the unemployment rate ranks, and now has the third highest in the country, behind only California and Nevada. While the state is performing quite well, the massive unemployment rate has the potential to weigh heavily on the state’s budget, either in the short-term or the long-term.
The state is attempting to reduce the effects in the short-term, at least, by adjusting the way benefit rates are calculated. NELP estimates that this reconfiguration of the system will reduce the average weekly benefits of residents by as much as $100. Workers will also have a longer period of ineligibility for benefits if they quit their job.
Read about the other 8 states reducing unemployment benefits here
http://247wallst.com/2011/08/04/the-nine-states-slashing-unemployment-benefits/
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