Rhode Island unemployment decreases

Posted on November 20, 2011

According to the Rhode Island Dept. of Labor, Rhode Island unemployment has decreased from 10.4 percent, down one-tenth of a percentage point from the previous month and down one and one-tenth percentage points from October 2010.

The number of unemployed RI residents—those residents classified as available for and actively seeking employment—decreased by 200 over the September figures, falling to 58,600 in October, the 19th consecutive over-the-month decline. Over the year, the number of unemployed RI residents dropped by 7,700.

Elsewhere in the nation, other companies are hiring for Boston jobs. It appears employment is increasing in several states.

Due to numerous eligibility requirements, the number of unemployed RI residents differs from the number of RI Unemployment Insurance recipients. The average weekly claim load for RI Unemployment Insurance benefits in October was 28,239, down 1,301 (-4.4%) from the September average of 29,540 and down 4,809 (-14.6%) from the October 2010 average of 33,048.

The number of employed RI residents increased 1,300 over the September figures, totaling 502,900 in October.  This is the first over-the-month increase in employed RI residents since April 2011, and the largest over-the-month increase since March 2010 (+1,500). Over the year, the number of employed RI residents was down 7,700 from October 2010.

The RI labor force totaled 561,500 in October 2011, up 1,100 from September but down 15,400 from October 2010 estimates. The over-the-month increase in the number of employed residents outweighed the decrease in the number of unemployed residents, causing the labor force to post its first over-the-month increase since December 2010.

The Manufacturing sector lost 800 jobs over the month, with the majority of the job losses stemming from the durable goods component of manufacturing, mainly fabricated metal product and wood product manufacturing. Three sectors – Retail Trade, Accommodation & Food Services and Other Services – each shed 500 jobs since September. Employment declines in Retail Trade were reported in the clothing & clothing accessories stores subsector and the sporting goods, book stores, music stores & hobby stores subsector. Accommodation & Food Services experienced payroll declines in hotel & motel establishments, as well as in full service restaurants. Losses in Other Services can be attributed to reductions in civic & social organizations and business, professional, labor & political organizations.