R.I. jobless rate falls again in Feb. to 4.5%, below national rate for second consecutive month

THE R.I. DEPARTMENT OF LABOR AND TRAINING said Rhode Island's unemployment rate fell to 4.5 percent in February. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING
THE R.I. DEPARTMENT OF LABOR AND TRAINING said Rhode Island's unemployment rate fell to 4.5 percent in February. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING

PROVIDENCE – Falling to a level not seen since May 2001, Rhode Island’s seasonally adjusted unemployment rate was 4.5 percent in February, the R.I. Department of Labor and Training said Thursday.

The rate is three-tenths of a percentage point lower than January’s jobless rate and nine-tenths of a percentage point lower than the rate recorded in February 2016.

The nation’s unemployment rate in February was 4.7 percent, slightly lower than the 4.8 percent rate in January and 4.9 percent rate in February 2016.

For the second consecutive month, the state’s unemployment rate was lower than the national rate.

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In February, there were 25,000 unemployed residents, residents classified as actively seeking employment, in the state; this is a 1,200-person drop from the revised January figure and a decrease of 4,800 people since February 2016.

Non-farm jobs totaled 495,200 in February – a gain of 2,200 jobs from the revised January figure and an increase of 5,900 from the year-to-year comparison. Since the beginning of 2017, the state has added 3,900 jobs.

The number of employed Rhode Islanders was 527,200 in February, an increase of 2,300 from January’s revised measurement and 4,800 higher than February 2016.

Rhode Island’s labor force was measured at 552,200 in February, which rose by 1,200 people from January and is unchanged from February 2016.

In February, unemployment insurance benefits were collected by 15,087 individuals, or 54.4 percent of the state’s total unemployed, which is a decrease of 175 people over the year.

The Bay State’s unemployment rate increased 0.2 percentage points from its revised January rate to 3.4 percent in February, according to the Massachusetts Executive Office of Labor and Workforce Development.

Since February 2016, Massachusetts’ unemployment rate has fallen 0.9 percentage points.

Below is an industry-specific analysis of Rhode Island’s unemployment figures from February and how they compare with January 2017 and February 2016.

  • Construction: 700 jobs were added over the month in February which reflects a 2,200-job increase from February 2016. Jobs in this sector have topped 20,000 for the first time since September 2008.
  • Other Services: 400 jobs were added over the month, which marks a 100-job increase year over year
  • Accommodation & Food Services: 300 jobs were gained over the month in February; jobs increased 1,100 over the year
  • Health Care & Social Assistance: 300 jobs were gained in February from January, which reflects a 1,100-job increase from February 2016
  • Transportation & Utilities: 300 jobs were gained over the month in February; there was a 100-job increase year over year
  • Wholesale Trade: 300 jobs were gained over the month in February, and 200 jobs over the year
  • Professional & Business Services: 200 jobs were added in February compared with January, and 1,900 jobs were added year over year
  • Arts, Entertainment & Recreation: 100 jobs were added over the month in February; jobs grew 1,100 from February 2016
  • Government: 100 jobs were added over the month in February, which marks a 200-job increase from February 2016
  • Mining & Logging: 100 jobs were added both over the month and over the year
  • Educational Services: 300 jobs were lost over the month in February; 400 jobs were lost since February 2016
  • Financial Activities: 100 jobs were lost over the month in February; year over year, jobs declined by 400
  • Manufacturing: 100 jobs were dropped over the month in February, and there were 800 fewer jobs compared with February 2016
  • Retail Trade: 100 jobs were lost both over the month and over the year in February
  • Information: The job count remained unchanged in February, but 500 jobs were lost over the year

Production workers in the manufacturing industry earned $18.60 per hour in February, an increase of 20 cents from January and 97 cents from February 2016. Manufacturing employees worked an average of 39.1 hours per week in February, a loss of 0.3 hours from January, but a gain of 0.8 hours from February 2016.

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