DLT: Jobless rate falls to 4.3% in March

PROVIDENCE – The Rhode Island unemployment rate fell to 4.3 percent in March, the lowest since March 2001, the R.I. Department of Labor and Training said Thursday.

The seasonally adjusted unemployment rate decreased two-tenths of a percentage point from February, and decreased 1.1 percentage points from March 2016. The Rhode Island jobless rate remained lower than the 4.5 percent national unemployment rate. Massachusetts reported a 3.6 percent jobless rate, while Connecticut posted a 4.8 percent unemployment rate for March.

DLT reported that the number of employed Rhode Island residents increased 2,800 from February to 530,100, although the number of jobs in the Ocean State fell 700 over the month, ending two consecutive months of job gains for the state. Over the year, Rhode Island nonfarm employment increased to 494,600, which is 4,000 more jobs than in March 2016.

Still, the DLT reports that 13,010 individuals collected unemployment insurance benefits in March, an increase from 12,887 a year earlier. Those collecting benefits accounted for 50.4 percent of all the unemployed.

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The labor force in Rhode Island showed both a month-to-month and year-over-year gaino f 1,700, for a total of 554,000 in March.

Below is an industry-specific analysis of Rhode Island’s unemployment figures from March 2017 and how they compare with February 2017 and March 2016. While 10 industry sectors showed job declines from February to March, only three posted drops in employment from a year earlier.

  • Construction added 1,500 year over year from March 2016.
  • Employment in professional and business services increased by 900 jobs.
  • Health care and social assistance, and arts, entertainment and recreation reported 900-job increases over the year as well.
  • Wholesale trade added 500 jobs year over year.
  • Accommodation and food services gained 200 jobs year over year, as did educational services and government.
  • Retail trade added 100 jobs year over year.
  • Jobs in the financial activities sector decreased 600 from March 2016.
  • Manufacturing employment fell 500 from the same time a year ago.
  • The number of jobs in the Information sector declined 300 jobs year over year.
  • Unchanged from a year ago were the mining & logging, and transportation & utilities sectors, as well as other services.

The DLT unemployment figures are based largely on a survey of households in Rhode Island and measure the unemployment status of people who live in the state.

March 2017 showed growth in manufacturing wages, as production workers earned $18.95 per hour, a 30 cent month-to-month gain, as well as an 80 cent increase from March 2016.

Chris Bergenheim is a PBN staff writer.