DLT: R.I. unemployment rate falls again in August

THE JOBLESS RATE fell to 5.6 percent  in August in Rhode Island, according to the R.I. Department of Labor and Training.  It was 7.4 percent in August 2014. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING
THE JOBLESS RATE fell to 5.6 percent in August in Rhode Island, according to the R.I. Department of Labor and Training. It was 7.4 percent in August 2014. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING

(Updated 3:32 p.m.)
PROVIDENCE – Rhode Island’s jobless rate fell to 5.6 percent in August, a two-tenths of a percentage point drop from July and 1.8 percentage point decline from August 2014, the state Department of Labor and Training reported on Thursday.

The seasonally adjusted unemployment rate is at its lowest point since September 2007, the DLT said.

Rhode Island’s rate was higher than the national jobless rate of 5.1 percent in August, however. The national rate also fell two-tenths of a percentage point from July and declined 1 percentage point over the year, the DLT said.

The number of unemployed residents, classified as those who are seeking employment, numbered 31,600 in August, a decrease of 700 from July. That also marks the lowest unemployment level since September 2007. Over the year, the number of unemployed fell by 9,300, the DLT said.

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In August, unemployment insurance claimants accounted for 34.1 percent of the total unemployed. A total of 11,009 individuals collected UI benefits in August, a drop from 12,086 in August 2014.

Employed residents increased to 528,600, which was 16,100 higher than in August 2014. The labor force also grew to 560,200, compared with 553,300 during the year-ago period.

Total nonfarm payroll employment totaled 485,000 in August, an increase of 5,600 year over year. Private-sector employment also increased by 5,400 year over year to 425,000.

Among the sectors, professional and business services experienced the greatest year-over-year increase at 3,200 to 64,500.

Gains also were reported in accommodation & food services and manufacturing (+1,100 each), financial activities (+600), retail trade, other services and transportation & utilities (+500 each), educational (+400), government (+200) and wholesale trade (+100).

The DLT said the job gain in the manufacturing sector boosted employment to its highest level since April 2009.

Year-over-year declines were reported in construction, which lost 1,300 jobs, bringing the August total to 15,100, followed by health care & social assistance (-700), information (-500) and arts, entertainment & recreation (-100). Mining and logging employment was unchanged year over year at 200.

Gov. Gina M. Raimondo released a statement on the unemployment rate, saying the drop is encouraging, but noting that it still lags the rest of the country.

“That’s why my top priority is creating jobs and expanding opportunity so everyone can make it in Rhode Island. Just in the past week, we launched the state’s new Business Navigation Center, a one-stop-shop for companies to make it easier to do business in Rhode Island; I spoke with employers building partnerships through Real Jobs RI to train workers for jobs that actually exist now; and I met with some of the 6,000 students who received more aid to go to college this fall through Rhode Island’s Promise. These measures are only the start. It will take time, but I am confident that if everyone pitches in, we will spark Rhode Island’s comeback,” Raimondo said.

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  1. For a more detailed analysis of the employment/underemployment/ unemployment situation;

    Refer to The Bureau Of Labor Statistics; http://www.bls.gov/lau/stalt.htm …which is updated quarterly…
    …as of 07/24/2015, Rhode Island’s Employment/Underemployment/Unemployment Rate
    of measurement at Level U6 is: TWELVE PONT FOUR CENT (12.4%)….

    ….and as of 09/04/2015, the National Employment/Unemployment
    Rate of measurement at Level U6 is: TEN POINT THREE PER CENT (10.3%)…
    (further details can be found at http://www.bls.gov/news.release/empsit.t15.htm which is updated monthly….)

    The next publication of the Employment/Underemployment/Unemployment situation, broken down by State level,
    covering the four quarters ending in September 2015, is scheduled for Friday, October 23, 2015,
    so stay tuned….jkp