Rhode Island’s Jobless Rate Lowest in Six Years (pdf)
April 20, 2007
Rhode Island Department of Labor and Training reported today that the
state’s seasonally adjusted unemployment rate fell to 4.2 percent in
March, down from 4.4 percent in February. This puts the RI unemployment
rate below the U.S. unemployment rate by two-tenths of a percentage
point, and represents the second month in a row that Rhode Island has
performed better than the national average. The RI unemployment rate
has continued to drop for three consecutive months, down from 5.1% in
Island’s unemployment rate is the lowest since October 2000,” said RI
Department of Labor and Training Director Adelita S. Orefice. This latest
change can be attributed to the net drop in unemployed Rhode Islanders
and the decrease in employed RI residents, which when combined served
to reduce the state’s labor force by 1,800 last month. The number of
unemployed Rhode Islanders decreased from 25,800 in February to 24,000
in March, while the number of employed residents remained relatively
stable at 553,700 in March, down from 553,800 in February.
Over the year, jobs were up 4,500 from the 491,800 jobs reported in March 2006. Annual employment growth occurred in the Professional & Business Services (+2,100); Financial Activities (+1,600); Health Care & Social Assistance (+1,500); Construction (+1,000); Arts, Entertainment & Recreation (+600); Educational Services (+500); Retail Trade (+300); Other Services (+300); Information (+100); and Natural Resources & Mining (+100) sectors. These gains offset losses in Manufacturing (-2,200); Government (-700); Accommodation & Food Services (-600); and Wholesale Trade (-100). Transportation & Utilities remained unchanged over the year.
DLT is dedicated to the growth and competitiveness of Rhode Island industry, administering a variety of training grants, tax credits, and apprenticeship programs to help employers. Economic indicators and labor market information are available for long-range planning. The Agency engages in active outreach, helping large and small employers retain their best workers or retrain their existing work force. At no cost to the employer, DLT will also screen job applicants, post job vacancies, and help businesses institute cost-sharing programs that can avert layoffs.
For more information on the innovative programs and services available to all Rhode Islanders at the Department of Labor and Training, please call (401) 462-8000 or visit the web site at www.dlt.ri.gov