RI. unemployment rate holds steady at 5.4% in May

RHODE ISLAND'S unemployment rate fell to 5.4 percent in May, seven-tenths of a percentage point from May 2015, the state Department of Labor and Training said Thursday. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING
RHODE ISLAND'S unemployment rate fell to 5.4 percent in May, seven-tenths of a percentage point from May 2015, the state Department of Labor and Training said Thursday. / COURTESY R.I. DEPARTMENT OF LABOR AND TRAINING

PROVIDENCE – Rhode Island’s seasonally adjusted unemployment rate was 5.4 percent in May, unchanged from the revised April rate, but seven-tenths of a percentage point lower than it was in May 2015, the state Department of Labor and Training said Thursday.

May marked the sixth consecutive month that the jobless rate has held at 5.4 percent.

Rhode Island’s unemployment rate was slightly higher than the average national rate of 4.7 percent, which fell three-tenths of a percentage point since April and eight-tenths of a percentage point from May 2015.

The state witnessed a 100-person increase in unemployed Rhode Island residents for a total of 29,700 since April, but that number is a 4,500-person decrease since May 2015.

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The state lost 2,000 jobs since April, for a total of 486,700, but gained 1,100 from a year ago.

There were 8,586 Rhode Islanders collecting Unemployment Insurance in May, accounting for 29.8 percent of all unemployed state residents. The number of persons collecting UI is down from 9,098 a year ago.

Four hundred fewer Rhode Islanders were employed in May than April for a total of 522,800; however, in the year-over-year comparison the number of employed residents rose by 800.

In addition, the Rhode Island labor force measured in May was 552,500 people, a decrease of 300 from April and a decrease of 3,700 from May 2015.

Rhode Island nonfarm payroll totaled 486,700 in May a 2,000-job loss from April’s revised 488,700. Since March the state has lost 3,900 jobs while it has gained 1,100 since May 2015.

Both the information and manufacturing sectors lost 600 jobs when comparing April with May; those lost from the information sector are due to a labor dispute while those in the manufacturing sector were lost as a result of a decline in the durable goods component of the sector. This 600-job loss is the largest loss in the manufacturing sector since March 2009, yet reflects an increase of 300 jobs from May 2015, DLT said.

In May the transportation and utilities sector, which has yet to report a job gain this year, lost 400 jobs over the month for a total of 1,200 lost jobs since January and is down 400 from May 2015.

Three hundred jobs were lost from April to May in the construction and arts, entertainment and recreation sectors. This is the third consecutive month the construction sector has reported a decrease for a total of 1,200 jobs lost. In addition, May marked the second consecutive loss for the arts, entertainment and recreation industry with a total of 600 jobs lost. The construction industry is up 800 jobs and the arts, entertainment and recreation industry has lost 200 jobs in the year-over-year comparison.

Accommodation and food services, other services and retail trade industries each reported 200 jobs lost in May while the government, professional and business services and wholesale trade sectors reported half as many losses (-100) each.

Since May 2015 the professional and business services sector gained 1,300 jobs; the accommodation and food services sector gained 800 jobs and the other services sector increased by 200 jobs while wholesale trade lost 800 jobs, government fell by 500 jobs and retail trade industry lost 100 jobs.

Job figures in the mining and logging sector were unchanged from April.

Jobs gains in the educational services (+800), health care and social assistance (+200) and financial activities (+100) offset the decline in jobs witnessed in May.

Production workers in the manufacturing industry earned $17.97 per hour, a 31-cent decrease from April, but a 44-cent increase in the year-over-year comparison. They worked an average of 38.3 hours each week, a two-tenths of an hour decrease from both April and May 2015.

Gov. Gina M. Raimondo weighed in on the unemployment rate.

“Although we’ve made progress – 4,500 fewer Rhode Islanders are unemployed than a year ago – creating an economy that’s strong enough so that there’s a job for every Rhode Islander who wants [one] is going to take time,” Raimondo said in a statement. “We’ve taken strong action on these fronts, and GE’s recent announcement that they’re planting a flag in Rhode Island is evidence that we’re on the right track. But there’s no doubt that we have much more work to do.”

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