Jobless rate falls again, to 5.4% in Sept., as job count drops

EVEN AS THE UNEMPLOYMENT RATE FELL three-tenths of a percentage point to 5.4 percent in September from August, the number of Rhode Island-based jobs fell 1,800 from the month before, while the number of employed Rhode Island residents fell 500 in the same period. / COURTESY DEPARTMENT OF LABOR AND TRAINING
EVEN AS THE UNEMPLOYMENT RATE FELL three-tenths of a percentage point to 5.4 percent in September from August, the number of Rhode Island-based jobs fell 1,800 from the month before, while the number of employed Rhode Island residents fell 500 in the same period. / COURTESY DEPARTMENT OF LABOR AND TRAINING

PROVIDENCE – Rhode Island’s jobless rate fell to 5.4 percent in September, a three-tenths of a percentage point drop from August’s revised rate of 5.7 percent, the state Department of Labor and Training reported Thursday.

The jobless rate has decreased by 1.8 percentage points from September 2014, the DLT reported. This is the lowest unemployment rate since August 2007.

Rhode Island’s jobless rate remains three-tenths of a percentage point higher than the national average of 5.1 percent, which remained flat from August to September but decreased eight-tenths of a percentage point year over year.

The number of unemployed Rhode Island residents – those actively seeking employment – declined by 1,300 to 30,400 from August to September, the lowest level of unemployment since July 2007. Over the year, the number of unemployed declined by 9,400.

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The Rhode Island labor force totaled 558,200 in September, representing a decrease of 1,800 from August but an increase of 6,100 compared with last September.

The number of individuals collecting unemployment benefits also dropped from 9,081 to 7,698 over the course of the 12 months ended Sept. 30.

The number of employed residents in September dropped by 500 to 527,800 from August’s figure of 528,300, although year over year, the number of employed residents increased by 15,500.

Year over year, estimated nonfarm payroll in Rhode Island increased by 3,000, for a total of 482,100. To date, monthly job growth has averaged 300, compared with an average monthly gain of 600 jobs during the same period in 2014.

Month to month, estimated nonfarm payroll reflected a loss of 1,800 jobs, to 482,100, from a revised August estimate of 483,900.

DLT reported employment increases year over year in accommodation and food services, which increased by 2,300; professional and business services, which rose by 2,100; manufacturing, which saw 1,000 jobs added, and others.

Some sectors declined year over year, including health care and social assistance, which fell 1,200; government, which fell by 500; financial activities, which dropped by 200; and construction, which saw the largest year-over-year drop, 1,800 jobs.

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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 POINT FOUR CENT (12.4%)….

    ….and as of 10/02/2015, the National Employment/Unemployment
    Rate of measurement at Level U6 is: TEN PER CENT (EVEN) (10.0%)…
    (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