Third Quarter Employment Data Top Estimates by 4,900
February 19, 2013
A recent analysis of tax data from 32,000 businesses shows that Rhode Island job growth exceeded original employment estimates for the third quarter of 2012 by 4,900 jobs, according to the RI Department of Labor and Training (DLT).
The new DLT-produced estimate for Rhode Island-based jobs as of September 2012 is 464,400, up 4,900 from the official September 2012 estimate, which was based on a monthly survey of 1,700 representative businesses. Because the tax data is derived from a virtual census of employers and more recent data is used, the quarterly estimates are considered to have a smaller margin of error than the monthly estimates. The new DLT September 2012 estimate also shows an over-the-year job gain of 4,700, while the official estimate predicted an over-the-year job loss of 200.
Third quarter tax data also shows significant increases in job counts in the following industry sectors:
Tax data also shows significant decreases in job estimates for the following sectors:
Once a year, the U.S. Bureau of Labor Statistics uses the latest four quarters of tax data to revise a full year’s worth of survey-based employment estimates for all states. The 2012 revisions for Rhode Island are scheduled for release on March 1, 2012.
The RI Department of Labor and Training has chosen to release its own revisions on a quarterly basis, to better track the progress of the economic recovery.
ABOUT DLT: The RI Department of Labor and Training offers employment services, educational services and economic opportunity to both individuals and employers. DLT protects Rhode Island’s workforce by enforcing labor laws, prevailing wage rates and workplace health and safety standards. The department also provides temporary income support to unemployed and temporarily disabled workers. For more information on the programs and services available to all Rhode Islanders, please call the RI Department of Labor and Training at (401) 462-8000 or visit the web site at www.dlt.ri.gov.