R.I. ranks 9th for manufacturing-job growth, 28th overall
PBN FILE PHOTO/RUPERT WHITELEY
RHODE ISLAND ranked ninth in the U.S. for year-over-year manufacturing job growth, according to a study by Arizona State University. Above, technician Hilario Tovar, foreman John Fullhart and owner Steve Kaplan of Hallmark Metals Corp. in Cranston.
PROVIDENCE – A new study by Arizona State University ranks Rhode Island 28th in the country for year-over-year job growth, based on an analysis of U.S. Bureau of Labor Statistics data.
At the start of this year, nonfarm jobs in Rhode Island totaled 461,100, a gain of 6,000 jobs, or 1.32 percent, compared with the 455,100 jobs reported a year earlier. The Ocean State dropped five spots in the 2014 ranking, falling to No. 28 from No. 23 in 2013.
In terms of specific industries, Rhode Island made its best showing for manufacturing-job growth. The state ranked at No. 9 for the 2.78 percent growth rate in manufacturing jobs, which totaled 40,7000 as of January 2014, and was the only New England state to land in the top 10 for manufacturing. In 2013, Rhode Island placed at No. 21 for manufacturing job growth.
The professional and business services sector posted the highest job growth rate in Rhode Island, at 3.64 percent, landing the Ocean State at No. 15 for that industry.
Information was Rhode Island’s worst-performing sector for job growth over the year, with a net loss of 400 jobs or 4.35 percent. Rhode Island ranked at No. 46 for information job growth, up from No. 50 the year prior. Other sectors that lost jobs between 2013 and 2014 included mining and construction and other services
Massachusetts ranked at No. 21 this year, an improvement on its 2013 rank at No. 24. The Bay State recorded 3.31 million total nonfarm jobs in January, gaining 50,200 jobs or 1.54 percent over the January 2013 total of 3.26 million jobs.
In New England, Massachusetts boasted the highest job growth rate, followed by Maine (No. 27 nationally) with 1.35 percent, Rhode Island, Vermont (No. 31) with 1.29 percent, New Hampshire (No. 40) with 0.83 percent and Connecticut (No. 44) with 0.52 percent.
Nevada – a state that has vied with Rhode Island for the last several months for the highest unemployment rate in the company – claimed the top spot in the ASU study with a job growth rate of 3.54 percent. New Mexico (No. 50) was the only U.S. state to post a net job loss between January 2013 and January 2014. The state lost 3,700 jobs during the 12-month period, a decline of 0.46 percent.
The United States average job growth rate was 1.77 percent, ASU reported. There were 135 million nonfarm jobs in the U.S. as of January 2014, compared with 133 million the year before.
Join PBN and two panels of successful female executives, business owners and entrepreneurs as we delve into what women should do to advance their careers, and become leaders in the corporate world and their own enterprises.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.