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Snapshot of the Rhode
Island Economy
March 2008
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(pdf)
The statistical data in the Snapshot are subject to monthly and annual
revisions; therefore, the figures
in the current edition should not be compared to those in prior versions of
this publication.
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Mar.
2008 |
Feb.
2008 |
Mar.
2007 |
%
Change |
Thru
March |
| Feb.
08 |
Mar.
07 |
2008 |
2007 |
%
Change |
| Labor
Force and Unemployment (1,000s)(Seasonally Adjusted) |
| |
R.I.
Labor Force |
572.7 |
571.2 |
576.9 |
0.3% |
-0.7% |
572.9 |
577.7 |
-0.8% |
| |
R.I.
Employed |
537.7 |
537.7 |
548.5 |
0.0% |
-2.0% |
539.1 |
549.3 |
-1.9% |
| |
R.I.
Unemployed |
35.1 |
33.5 |
28.4 |
4.8% |
23.6% |
33.8 |
28.4 |
19.0% |
| |
R.I.
Unemployment Rate |
6.1% |
5.9% |
4.9% |
3.4% |
24.5% |
5.9% |
4.9% |
20.0% |
| |
U.S.
Unemployment Rate |
5.1% |
4.8% |
4.4% |
6.2% |
15.9% |
4.9% |
4.5% |
9.9% |
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| R.I.
Insured Unemployment (as of week of the 12th) |
Average through
week 14
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Avg.
Insured Unemployed |
18,789 |
16,891 |
16,442 |
11.2% |
14.3% |
18,875 |
16,445 |
14.8% |
| |
Insured
Unemployment Rate* |
3.97% |
3.57% |
3.50% |
11.2% |
13.4% |
4.00% |
3.50% |
14.3% |
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Thru
March |
| Total
Jobs at R.I. Businesses (1,000s)(Seasonally Adjusted) |
2008 |
2007 |
%
Change |
| |
Establishment
Employment (Total) |
484.8 |
487.9 |
494.9 |
-0.6% |
-2.0% |
487.2 |
495.6 |
-1.7% |
| |
Natural
Resources & Mining |
0.2 |
0.2 |
0.2 |
0.0% |
0.0% |
0.2 |
0.2 |
0.0% |
| |
Construction |
21.0 |
20.8 |
22.8 |
1.0% |
-7.9% |
21.0 |
23.0 |
-8.7% |
| |
Manufacturing |
48.6 |
49.3 |
51.3 |
-1.4% |
-5.3% |
49.1 |
51.6 |
-4.8% |
| |
Wholesale
Trade** |
16.9 |
16.9 |
17.1 |
0.0% |
-1.2% |
16.9 |
17.2 |
-1.7% |
| |
Retail
Trade |
50.6 |
51.1 |
52.0 |
-1.0% |
-2.7% |
51.0 |
51.9 |
-1.7% |
| |
Transportation
& Utilities |
10.9 |
10.9 |
10.9 |
0.0% |
0.0% |
10.9 |
11.0 |
-0.9% |
| |
Information |
10.8 |
10.9 |
10.5 |
-0.9% |
2.9% |
10.9 |
10.5 |
3.8% |
| |
Financial
Activities |
33.7 |
34.1 |
35.5 |
-1.2% |
-5.1% |
34.0 |
35.5 |
-4.2% |
| |
Professional
& Business Services |
54.0 |
54.5 |
56.6 |
-0.9% |
-4.6% |
54.5 |
56.8 |
-4.0% |
| |
Educational
Services |
23.9 |
24.1 |
23.2 |
-0.8% |
3.0% |
23.9 |
23.0 |
3.9% |
| |
Health
Care & Social Assistance |
76.3 |
76.5 |
75.7 |
-0.3% |
0.8% |
76.4 |
75.7 |
0.9% |
| |
Arts,
Entertainment & Recreation |
7.7 |
7.8 |
8.1 |
-1.3% |
-4.9% |
7.8 |
8.0 |
-2.5% |
| |
Accommodation
& Food Services |
43.1 |
43.2 |
43.2 |
-0.2% |
-0.2% |
43.2 |
43.2 |
0.0% |
| |
Other
Services |
22.9 |
23.2 |
23.3 |
-1.3% |
-1.7% |
23.1 |
23.3 |
-0.9% |
| |
Government |
64.2 |
64.4 |
64.5 |
-0.3% |
-0.5% |
64.4 |
64.6 |
-0.3% |
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| Unemployment
Insurance |
Year to Date
|
| |
Initial
Claims |
6,388 |
9,169 |
5,873 |
-30.3% |
8.8% |
27,032 |
23,613 |
14.5% |
| |
Number
of Payments |
83,086 |
75,150 |
64,980 |
10.6% |
27.9% |
231,391 |
199,331 |
16.1% |
| |
Amount
of Payments (gross millions) |
$30.4 |
$27.4 |
$23.0 |
10.9% |
32.2% |
$84.6 |
$69.7 |
21.4% |
| |
Exhaustions
(Final Payments) |
1,905 |
1,397 |
1,249 |
36.4% |
52.5% |
4,882 |
3,779 |
29.2% |
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| Temporary
Disability Insurance |
Year to Date
|
| |
Initial
Claims |
4,814 |
3,861 |
4,228 |
24.7% |
13.9% |
12,730 |
12,353 |
3.1% |
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Number
of Payments |
37,121 |
34,601 |
37,675 |
7.3% |
-1.5% |
111,152 |
112,256 |
-1.0% |
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Amount
of Payments (gross millions) |
$14.4 |
$13.5 |
$14.0 |
6.7% |
2.9% |
$43.5 |
$42.2 |
3.1% |
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**State calculated estimate
R.I. Population Trends: The 2000 Census
indicates that Rhode Island's population grew from 1,003,464 in 1990 to
1,048,319 in 2000. According to state
population estimates for July 2005, Rhode Island residents numbered
1,076,189, reflecting an increase of
nearly 28,000 residents from Census 2000, but a drop of about 4,500 from the
July 2004 estimate.
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Commuting Patterns:
According to the 2000 Census, there were 32,371 more RI
residents working out of state than non-residents working in RI. The number
of RI residents commuting to a job in MA reached 56,138. The represents
11.4% of RI's employed residents and is up from 9.7% in 1990. The number of
Rhode Islanders commuting to a job in CT was 11,315 or 2.3%, up from 1990's
figure of 1.9%. In contrast, the number of MA residents working in RI was
31,506, while the number of CT residents commuting to a job in RI was 3,998.
As of October 2005, approximately 2,210 Rhode Islanders were employed at the nearby Foxwoods casino and
another 350 Rhode Island residents were employed at Mohegan Sun. (Source: RI Economic Development Corp.)
*13-week average expressed as a percentage of
covered employment.
Note: Data for latest month are preliminary. Prior year reflects latest
revision.
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