PROVIDENCE – Rhode Island’s unemployment rate ticked down 1.4 percentage points from June to July, but remains more than than triple the rate a year ago, according to information published on Thursday by the R.I. Department of Labor and Training.
Rhode Island also continues to see higher unemployment than the national average, with 11.2% unemployment statewide in July, versus 10.2% nationwide. However, Rhode Island saw a larger month-over-month percentage-point decrease than the nation, the latter of which decreased 0.9 percentage points from the 11.1% June unemployment rate. The national unemployment rate was 3.7% a year ago.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
By Emilio DiSpirito IV License Partner | Engel & Völkers Oceanside Leader | The DiSpirito…
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Unemployed state residents totaled 62,300 in July, a 7,100-person decrease over June but still 42,400 more than a year ago.
The total number of employed residents grew 12,100 month-over-month to 494,500 people. A year ago, there were 535,200 employed residents.
The state labor force also increased to 556,800 a year ago a 5,000-person increase over the prior month and 1,700 more than July 2019.
Nonfarm employment increased by 13,800 jobs over the prior month to total 457,400. While this still represents fewer 42,800 than a year ago, over half of the total 98,100 jobs lost in March and April at the height of the pandemic have been recovered.
All sectors, except educational services, reported year-over-year declines in July.
Sector-by-sector employment in Rhode Island in June (in order of the number of employed):
— Health care and social assistance: 75,900 jobs, a 6,100-job decrease over a year ago but up 1,600 from June;
— Government: 63,200 jobs, a 1,900-job decrease from a year ago but with 600 jobs more than the prior month;
— Professional and business services: 61,200 jobs, a 6,900-job decrease over a year ago but with 700 more than in June;
— Retail trade: 45,000 jobs, down 2,900 over a year ago but a 500-job increase over June;
— Manufacturing: 39,400 jobs, a 300-job decline over the prior year but up 1,00 from the month before and back to its February, pre-pandemic unemployment level;
— Accommodation and food services: 39,100 jobs, a 13,100 year-over-year decline but an increase of 4,000 over the prior month;
— Financial activities: 35,600 jobs, down 100 year-over-year but with 1,100 more than in June;
— Educational services: 26,800, up 700 from a year ago and 1,100 over the prior month;
— Construction: 18,400 jobs, a 1,500-job drop over July 2019 but with 400 more jobs than a year ago;
— Other services: 18,000 jobs, a 4,900 year-over-year decline but up 700 from the prior month;
— Transportation and utilities: 10,600 jobs , 1,700 less than a year ago but an 800-job increase over June;
— Arts, entertainment and recreation: 5,900 jobs, down 2,100 over a year ago but with 1,300 more than the prior month;
Job numbers in the information, mining and logging and wholesale trade industries were unchanged from the prior month, though all experienced declines compared to a year ago.
