Last Update: March 11 @ 5:11 PM
Economy
October jobless rates rise in Providence,
New Bedford metropolitan areas
COURTESY U.S. BUREAU OF ECONOMIC ANALYSIS


WASHINGTON – The unemployment rate in Providence-Fall River-Warwick posted the biggest year-over-year increase of any major metropolitan area in October, as local payrolls shrank faster than the area’s work force, according to the latest data from the U.S. Department of Labor’s Bureau of Labor Statistics. The New Bedford-area jobless rate, although down slightly from September, also rose compared with a year ago.

The Greater Providence jobless rate rose to 8.4 percent before seasonal adjustment – a 3.8-percentage-point increase from the area’s October 2007 rate of 4.6 percent, the BLS said today – after retreating to 8.0 percent the month before from August’s 8.5 percent. (READ MORE) Fifteen other metropolitan areas posted year-over-year unemployment increases of 2.0 percentage points or more, led by the 3.2-percentage-point increase in Riverside-San Bernardino-Ontario, Calif., the bureau said.

The Providence region’s civilian labor force (based on place of residence) shrank to 701,900 local workers from September’s 703,200 and fell 1.0 percent compared with the metro region’s year-ago total of 709,000. Non-farm payroll employment (based on place of work) shrank to 572,800 positions from September’s 572,900 jobs and fell 2.5 percent compared with the year-ago 587,500.

In the New Bedford metropolitan area, the unemployment rate dipped to 7.3 percent from September’s 7.5 percent but rose 2.0 percentage points compared with October 2007’s 5.3 percent.

The area’s civilian labor force increased to 83,700 workers from September’s 83,300 and the year-ago work force of 83,400. Employment on non-farm payrolls edged up to 66,500 jobs from September’s 66,400 positions, but fell 1.5 percent compared with the October 2007 total of 67,500 local jobs.

The U.S. unemployment rate climbed to 6.1 percent before seasonal adjustment, edging up from September’s 6.0 percent and rising sharply compared with the October 2007 rate of 4.4 percent, the bureau said. Among the nation’s 369 official metropolitan areas, jobless rates were higher in October than a year earlier in 361 regions, or 97.83 percent, and fell year-over-year in the other eight areas.

October’s metro-area unemployment rates nationwide ranged from 2.2 percent in Bismark, N.D., to 27.6 percent in El Centro, Calif., the BLS said. Jobless rates of at least 7 percent were seen in 98 metropolitan areas – up from 16 a year ago – while 13 posted unemployment of 10 percent or higher. Unemployment levels below 4.0 percent were seen in 43 regions – down from 151 in October 2007 – while 11 metro areas recorded rates of less than 3 percent.

Meanwhile, Rhode Island’s unadjusted jobless rate rose to 8.8 percent in October from 8.3 percent the month before and 4.6 percent in October 2007. Massachusetts posted an October jobless rate of 5.0 percent, a slight decrease from September’s 5.3 percent but an increase from the year-ago rate of 3.9 percent, the BLS said.

After seasonal adjustment, however, the Ocean State saw its unemployment rate climb in October to a 25-year high of 9.3 percent– from September’s revised 8.8 percent and the year-ago 5.1 percent – putting the state in a tie with Michigan for the month’s highest state unemployment rate nationwide. (READ MORE)

Additional information, including the latest monthly Metropolitan Area Employment and Unemployment report, is available from the U.S. Department of Labor’s Bureau of Labor Statistics at www.bls.gov.

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