Jobless rate drops to 6.8% in December, lowest since March ’08

PROVIDENCE – Rhode Island’s unemployment rate dropped in December to 6.8 percent, the lowest rate for the state since March 2008, the R.I. Department of Labor and Training has reported.
That’s down three-tenths of a percentage point from November, when the unemployment rate was 7.1 percent, and down 2.5 percentage points from 9.3 percent in December of 2013. The unemployment rate remains 1.2 percentage points above the national average for December of 5.6 percent, the DLT reported.
Overall, 7,700 jobs were added to the Rhode Island economy in 2014, the largest annual gain since 2000, when 9,500 jobs were added, the DLT said.
Gov. Gina M. Raimondo welcomed the news in a statement, but noted that the state’s unemployment rate “remains significantly higher than other New England states and the national average. Too many people are still struggling – we must do more to create opportunity and make sure that everyone can make it in Rhode Island.”
The labor force here totaled 552,600 this past December, down 700 from November, but up 2,500 compared with December of 2013, the agency reported.
The number of Rhode Island residents who were unemployed in December but available and actively seeking work was down by 2,000 from November, to 37,300. That represents the 17th consecutive month-to-month decrease and the lowest unemployment level since February of 2008, DLT said. Over the year, the number of jobless dropped by 13,800, the agency said.
The number of individuals collected unemployment insurance benefits dropped to 11,851 this past December from 13,325 a year ago, the DLT said.
The number of employed residents increased by 1,200 from 514,100 in November to 515,300 in December, while over the year, the number of employed residents was by 16,200 compared with December of 2014.
Year over year, the greatest job gains were seen in educational services, +1,800, and accommodation and food services, +1,300. Eight other sectors registered gains: manufacturing, +1,100; financial activities, +1,000; construction, +900; other services, +800; professional and business services, +700; transportation and utilities, +500; health care and social services, +400; and recreation, +100.
Job counts decreased in four sectors: retail trade, -400; government, -300; and wholesale trade and information, -100 each. Mining & Logging remained unchanged since December of 2013.
Compared with November, December’s estimated nonfarm payroll totaled 478,900, reflecting a loss of 100 jobs from the revised November estimate of 479,000, DLT said.
From November to December, professional and business services lost 1,100 jobs, a loss attributed to declines among companies offering administrative and waste services. The retail trade registered a decrease of 400 jobs. Other declines included health care and social assistance, -200; and government, financial activities, and arts, entertainment and recreation all declining by 100 jobs each.
Month-to-month gains included 600 more jobs in accommodation and food services and 400 more jobs in manufacturing and in other services. Other added jobs included 300 in educational services and 100 in both construction and transportation and utilities. Wholesale trade, information and mining and logging remained unchanged over the month.

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  1. For a more detailed analysis of the employment/underemployment/ unemployment situation;
    Refer toThe Bureau Of Labor Statistics;
    http://www.bls.gov/lau/stalt.htm …which is updated quarterly…
    as of 10/24/2014, Rhode Island’s Employment/Unemployment Rate
    of measurement at Level U6 is: FOURTEEN POINT FOUR PER CENT (14.4%)
    (The U6 statistic broken down state by state, for the last quarter of 2014,
    (the next measurement cycle) is scheduled to be published on Friday,
    January 30th; So stay tuned….)
    ….as of 01/09/2015, the National Employment/Unemployment Rate of measurement
    at Level U6 is: ELEVEN POINT TWO PERCENT (11.2%)
    (further details at http://www.bls.gov/news.release/empsit.t15.htm
    which is updated monthly; Note that is has ONLY gone down by
    TWO TENTHS OF ONE PERCENT since last month’s report)….
    VERY INTERESTING….Notice how they publish this TODAY;
    JANUARY 22ND; EIGHT (8) DAYS BEFORE THE BLS PUBLISHES
    THE U6 DATA/STATE LEVEL (FRIDAY, JANUARY 30TH)….
    I GUESS THEY’RE HOPING THAT NO/ONE WILL REMEMBER
    THIS ARTICLE BY THEN….(LOL)…..jkp