RI Department of Labor and Training

MEDIA ADVISORY
 

Fourth Quarter Job Numbers 2,100 Greater Than Originally Estimated


April 10
, 2014

The Department of Labor and Training’s (DLT) most recent analysis of fourth quarter tax data indicates that Rhode Island job growth is greater than originally estimated, with 2,100 more jobs than first reported in December 2013. This would bring the total number of Rhode Island-based jobs for December 2013 to 473,300.

DLT’s quarterly tax data is obtained from the state’s 32,000 employers and is considered to be more accurate than the survey-based data released earlier by DLT in conjunction with the US Bureau of Labor Statistics (BLS). The BLS estimates are sample-based estimates generated from a monthly survey of some 1,700 businesses.

Additionally, the estimates derived from tax data show that over the year, Rhode Island gained 5,200 jobs between December 2012 and December 2013, as compared to earlier BLS estimates showing a job gain of 3,100 for that period.

Based on the tax data review, upward revision are projected for nine economic sectors with the largest expected in Professional & Business Services (+600), Information (+400), Financial Activities (+300), Other Services (+300) and Construction (+200). Government employment is also expected to be revised up (+200) due to more jobs at the local level. A downward revision of 200 jobs is projected for the Retail Trade sector.

“The state must continue to focus on the fundamentals with our investments in education, infrastructure and workforce development,” Governor Chafee said. “These investments continue to pay dividends, strengthen the economy and will allow Rhode Island to make additional progress forward.”

“I am pleased to see that this latest tax data supports the continued job growth we are seeing in the state,” said Director of the Department of Labor and Training Charles J. Fogarty. “I am especially glad to see much of this job growth is in the Professional & Business Services industry, a sector which typically pays higher than average wages.”

RI Department of Labor and Training
Projected Revision in December 2013 Job Numbers
(In Thousands)
BLS DLT  DLT 
Published Projected Projected
Estimates Estimates Revision
Total Nonfarm 471.2 473.3 2.1
Private Sector 411.2 413.1 1.9
Mining & Logging 0.2 0.2 0.0
Construction 15.9 16.1 0.2
Manufacturing 40.5 40.5 0.0
Wholesale Trade 16.8 16.8 0.0
Retail Trade 46.9 46.7 (0.2)
Transportation & Utilities 11.1 11.2 0.1
Information 8.8 9.2 0.4
Financial Activities 32.1 32.4 0.3
Professional & Business Services 58.8 59.4 0.6
Educational Services 22.8 22.8 0.0
Health Care & Social Assistance 80.4 80.4 0.0
Arts, Entertainment & Recreation 8.8 8.9 0.1
Accommodation & Food Services 45.8 45.9 0.1
Other Services 22.3 22.6 0.3
Government 60.0 60.2 0.2
     
DLT  BLS Year-
Projected Published Over-Year
Dec-13 Dec-12 Change
Total Nonfarm 473.3 468.1 5.2
Private Sector 413.1 408.0 5.1
Mining & Logging 0.2 0.2 0.0
Construction 16.1 16.1 0.0
Manufacturing 40.5 39.9 0.6
Wholesale Trade 16.8 16.7 0.1
Retail Trade 46.7 46.6 0.1
Transportation & Utilities 11.2 10.9 0.3
Information 9.2 9.3 (0.1)
Financial Activities 32.4 31.9 0.5
Professional & Business Services 59.4 57.1 2.3
Educational Services 22.8 23.9 (1.1)
Health Care & Social Assistance 80.4 80.4 0.0
Arts, Entertainment & Recreation 8.9 7.7 1.2
Accommodation & Food Services 45.9 44.6 1.3
Other Services 22.6 22.7 (0.1)
Government 60.2 60.1 0.1

 

 

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.

 

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