“The RI Cheat Sheet”—Start Your Monday with the Latest Numbers, Data, and Factoids - March 4, 2019
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“The RI Cheat Sheet”—Start Your Monday with the Latest Numbers, Data, and Factoids - March 4, 2019
The weekly feature focuses on important and interesting numbers, data, and high-value factoids that impact Rhode Island and the economy.
1) Retail Armageddon Increases
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTOn Friday, it was announced that more than 300 retail locations were closing. Victoria's Secret, JCPenney, and the Gap all announced store closures. The number of retail locations closing is on the rise.
Business Insider estimates that in 2019, 4,000 retail locations so far this year have been closed.
The closures range from Lord &Taylor with two locations, to Lowe’s 20 stores, Gymboree's 805 and Payless' 2,200.
2) Rhode Island May Be Happier than You Think
Rhode Island is neither "happy" or "unhappy" according to Gallups' Wellbeing Index of the U.S. The research group through a complex research model ranks the 50 states annually. Hawaii annually is the top-ranked for the happiest state for the 7th consecutive state. Rhode Island is ranked right dead in the middle -- 25th.
These state-level data rankings are based on more than 115,000 surveys with U.S. adults across all 50 states, conducted in all 12 months of 2018.
The ranking is based on:
Career: Liking what you do each day and being motivated to achieve your goals
Social: Having supportive relationships and love in your life
Financial: Managing your economic life to reduce stress and increase security
Community: Liking where you live, feeling safe and having pride in your community
Physical: Having good health and enough energy to get things done daily
Rhode Island's best score - #12 for "physical" in the U.S.
Rhode Island ranks #44 for social.
Who is last in the country? West Virginia.
3) Forget Whole Foods -- Amazon is Launching a New Supermarket
Amazon is opening a new retail supermarket chain, the Wall Street Journal is reporting, “Amazon.com is planning to open dozens of grocery stores in several major U.S. cities, according to people familiar with the matter, as the retail giant looks to broaden its reach in the food business and touch more aspects of consumers’ lives.
The company plans to open its first outlet, in Los Angeles, as early as the end of the year, one person said. Amazon has already signed leases for at least two other grocery locations with openings planned for early next year, this person said, without saying where those stores would be."
This new chain will compete and not replace Whole Foods.
Hard to believe but the income level in and life expectancy could be so different in two different counties in Rhode Island.
In Providence County, the median household income is $52,500 and the life expectancy is 79.3.
In Washington County, the median household income is $77,900 and the life expectancy is nearly two years longer — 81.1 years.
5) RI Is Losing a Lot of Middle-Class Residents
Rhode Island is the 4th ranked state for the loss of middle-class households — losing 2.9 percent, according to 24/7 Wall Street.
The state losing the most middle-class households? New Hampshire — the Granite state lost 4.3 percent.