DLT revisions show higher unemployment rates for 2013

Rhode Island’s average unemployment rate for 2013 was 9.5 percent, according to revised data released by the R.I. Department of Labor and Training on Thursday. The yearly average came in eight-tenths of a percentage point lower than 2012’s average of 10.3 percent. More

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DLT revisions show higher unemployment rates for 2013

COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING
THE R.I. DEPARTMENT of Labor and Training said Thursday that Rhode Island's unemployment rate was revised upward in December to 9.3 percent from the previously reported 9.1 percent. The annual revision showed upward change in the jobless rate nearly every month in 2013. The average unemployment rate for the year was 9.5 percent, down from 10.3 percent in 2012.
Posted 2/27/14

PROVIDENCE – Rhode Island’s average unemployment rate for 2013 was 9.5 percent, according to revised data released by the R.I. Department of Labor and Training on Thursday.

The yearly average came in eight-tenths of a percentage point lower than 2012’s average of 10.3 percent.

In addition to the annual data, the DLT also published a revised unemployment figure for the month of December, which was revised upward to 9.3 percent compared with the previously published rate of 9.1 percent.

Despite the unfavorable revision, the DLT said 9.3 percent represented the lowest state unemployment rate since November 2008, and the revision was due in part to higher numbers of unemployed Rhode Islanders during the previous 11 months of 2013 than originally reported.

The DLT also reported Thursday that the number of jobs based in Rhode Island averaged 470,800 in 2013, approximately 3,100 more than the 467,700 initially reported.

The number of people employed in Rhode Island – previously reported to be between 500,300 and 509,300 throughout the year – was revised downward to between 499,100 and 506,200.

With regard to the overall size of the state labor force – representing the sum of employed and unemployed residents in the state – the DLT said monthly revisions were mixed, some revising the labor force total up and some revising down. After revisions, last year’s labor force peaked at 560,000 in January and slowly decreased every month to 550,100 in December, the lowest labor force level since June 2002.

Every year, the DLT recalculates data based on updated monthly job estimates and revised population estimates. Revisions made over the past five years indicate that the highest unemployment rate of the recession occurred between December 2009 and March 2010, when the state hit an 11.9 percent unemployment rate.

The highest count of unemployed residents, 68,100, occurred in February and March of 2010, while the lowest number of state-based jobs recorded was 455,900, which occurred in July and August of 2009.

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