Rhode Island unemployment drops
Posted on July 1, 2012
Rhode Island unemployment is down two-tenths of a percentage point, according to the Rhode Island Department of Labor and Training.
The states seasonally adjusted unemployment rate for May 2012 dropped to 11.0 percent. This reversed a three-month trend of small increases in the states unemployment rate.
That rate is down rate was down three-tenths of a percentage point year-over-year. Over the year, the number of unemployed RI residents dropped by 2,100.
According to the RI Labor Dept., the number of employed RI residents was up 1,300 over the revised April figures, rising to 495,400 in May.
That was the first time in five months that the number of employed RI residents had increased, and represented the largest over-the-month increase since February 2010. Over the year, the number of employed RI residents was down 4,800 from May 2011.
Nonfarm payroll in May was 458,100 in Rhode Island. Jobs lost include 600 in construction and 800 in the food services sector. Retail Trade employment dropped 500 over the month, as fewer than usual personnel were added to retail payrolls in May. Within the Health Care & Social Assistance sector, employment losses of 500 were largely due to reported declines in the ambulatory health services subsector.
Professional & Business Services employment posted the largest over-the-year increase in May, with a gain of 600 jobs, followed by Educational Services (+400), Wholesale Trade (+400), Manufacturing (+200), Information (+200), Financial Activities (+100) and Transportation & Utilities (+100).