R.I. jobless rate drops slightly in October, down to 5.5%

THE UNEMPLOYMENT rate slipped to 5.5 percent in October, compared with September's 5.6 percent, the R.I. Department of Labor and Training said Thursday. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING
THE UNEMPLOYMENT rate slipped to 5.5 percent in October, compared with September's 5.6 percent, the R.I. Department of Labor and Training said Thursday. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING

PROVIDENCE – Rhode Island’s seasonally adjusted unemployment rate fell to 5.5 percent in October, representing a 0.1 percentage point decline from both the prior month and October 2015, according to a release from the R.I. Department of Labor and Training on Thursday.

The U.S. unemployment rate was 4.9 percent in October, also a 0.1 percentage point fall from 5 percent rates in September 2016 and October 2015.

Last month, the number of unemployed Rhode Island residents was 30,600 – 500 fewer than September and 100 fewer than October 2015. In addition, 7,051 people collected unemployment insurance benefits in October, or 26.6 percent of the state’s total unemployed. This marks a decline of 412 people collecting benefits over the year.

There were 492,400 total jobs in October – 1,700 jobs were added in the revised month-to-month comparison. October’s job growth reversed two previous months of declines, which saw 800 jobs lost. Over the year, 6,600 jobs were added in October.

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There were 200 more employed residents of the Ocean State in October, a total of 526,600, representing an increase of 4,200 from last year. The state’s labor force was 557,300 in October, down 300 from the previous month, but an increase of 4,200 year over year.

Comparatively, the Massachusetts seasonally adjusted unemployment rate fell for the fourth consecutive month, to 3.3 percent in October, according to a release Thursday by the state’s Executive Office of Labor and Workforce Development. The rate was 3.6 percent in September and 4.8 percent in October 2015 in the Bay State.

Falling 0.3 percentage points from September, this level of unemployment, according to the Massachusetts agency, has not been seen since April 2001. One of the factors for the decline in unemployment is the addition of 61,300 jobs from December 2015 to October in the Bay State.

However, October also marked a month in which Massachusetts reportedly lost 5,500 jobs.

Connecticut’s unemployment rate also fell, to 5.1 percent, despite employers eliminating 7,200 more jobs than they added in October, the Hartford Courant reported. Connecticut’s jobless rate was 5.4 percent in September and 5.4 percent in October 2015.

In Rhode Island, industries were impacted in October as follows:

  • Professional & Business Services increased by 900 jobs from September to October and added 2,800 jobs year over year
  • Education Services added 700 jobs from September to October and added 400 jobs year over year
  • Health Care & Social Assistance added 700 jobs over the month, a 300-job bump from a year ago
  • Arts, Entertainment & Recreation added 100 jobs from September to October and added 200 jobs year over year
  • Construction added 100 jobs over the month and over the year
  • Financial Activities increased by 100 jobs in October, but lost 400 jobs over the year
  • Other Services added 100 jobs in October, a 200-job bump since October 2015
  • Manufacturing lost 500 jobs last month, the third consecutive month of losses totaling 1,100 jobs, and October marked 300 fewer jobs than in October 2015
  • Accommodation & Food Services lost 200 jobs in October, but the industry added 2,800 jobs over the year
  • Government dropped 100 jobs from September to October, but also gained 100 jobs over the year
  • Transportation & Utilities lost 100 jobs in October; jobs were unchanged over the year
  • Wholesale Trade decreased by 100 jobs last month, and lost 300 jobs over the year
  • Information was unchanged in October from September, but lost 300 jobs since October 2015
  • Retail Trade also was unchanged in October, but gained 1,000 jobs over the year
  • Mining and Logging was unchanged in October and year over year

Manufacturing industry workers earned $18.74 per hour in October, an increase of 30 cents from September, and $1.16 more from October 2015; they also worked an average of 39.5 hours per week in October – up 0.1 hour from September and 0.8 hours from October 2015.

Gov. Gina M. Raimondo released the following statement regarding the jobless rate: “With this month’s growth, the Rhode Island economy has regained all private sector jobs that were lost during the Great Recession and private sector employment is at an all-time high. Along with our new Small Business Assistance Program – which will give microenterprises, minority- and women-owned businesses, and other small businesses access to capital in order to grow – this very positive milestone shows momentum. We will continue to build a strong economy that invests in the skills of our workers and the competitiveness of our employers.”

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