ECONOMIC INDICATORS

R.I. lost 7% of jobs since recession

BLOOMBERG NEWS
RHODE ISLAND has lost 7.42 percent of its workforce since 2007, according to U.S. Bureau of Labor Statistics data analyzed by the Business Journals.
Posted 7/11/12

WASHINGTON – Rhode Island has lost 7.42 percent of its jobs since 2007, according to U.S. Bureau of Labor Statistics data analyzed by the Business Journals.

In May 2007, the Ocean State had 494,800 non-farm employees compared with 458,100 in May 2012, seasonally adjusted.

For its 7.42 percent loss during the half a decade since May 2007, Rhode Island ranked 48th among the 50 states and Washington, D.C.

The Ocean State beat out Arizona, Florida and Nevada, which lost 8.39 percent, 9.02 percent and 12.5 percent of the number of people working, respectively.

Comparatively, North Dakota, which boasts the biggest percent change between May 2007 and May 2012, saw a 16.71 percent increase in jobs during that period.

Based on raw data, Rhode Island ranked 26th across the U.S., having lost 36,700 jobs between May 2007 and May 2012.

Texas earned the No. 1 slot in that category, with 410,400 more jobs in May 2012 than it did in May 2007.

Thirteen states have employment deficits of more than 100,000 behind their May 2007 figures, according to the news source, and another nine states are more than 50,000 jobs behind May 2007 numbers.

As a whole, the U.S. is 4.43 million jobs below its May 2007 nonfarm employment total, a 3.2 percent deficit.

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