CRANSTON – Rhode Island’s seasonally adjusted unemployment rate was 2.7% in July, unchanged from June and matching the lowest rate on record, the R.I. Department of Labor and Training said on Thursday.
Nonfarm payrolls totaled 496,200 in July, an increase of 100 from the revised count in June and up 12,700 year over year. These jobs exclude farming and some government, private and nonprofit workers.
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The state’s unemployment rate was 6% in July 2021.
“Rhode Island’s economic momentum is clear by the continued strong jobs reports we are seeing month after month,” Gov. Daniel J McKee said. “Rhode Islanders should be encouraged by the progress we’re making together.”
The number of unemployed Rhode Islanders – classified as residents actively seeking employment – decreased to 15,200 in July, a decline of 500 since June and 19,600 year over year. The number of unemployed state residents has dropped 85,100 since April 2020, the height of pandemic-related shutdowns.
Employed Rhode Islanders totaled 558,000 in June, an increase of 1,800 from July and up 18,000 year over year.
The DLT noted that compared with February 2020 – a month before the COVID-19 pandemic hit – the number of unemployed Rhode Island residents is down 5,800 and the number of employed state residents is up 7,200. The labor force, employment and unemployment levels have now reached points surpassing pre-pandemic levels, the DLT said.
Last month, the state’s administrative and waste services and educational services sectors each added 400 jobs in July, followed by a gain of 300 jobs in the government sector. The manufacturing sector gained 200 jobs from June, bringing the total to 40,300. Offsetting some of the July job gains was a loss of 400 jobs in both the health care and social assistance and retail trade sectors. The retail trade sector has reported a job loss for four consecutive months, totaling 1,300 jobs, the DLT said.
The arts, entertainment and recreation and other services sectors lost 300 and 200 jobs in July, respectively, while a loss of 100 jobs was reported in each of the accommodation and food services, management of companies and wholesale trade sectors.
Seasonally adjusted nonfarm payrolls in Rhode Island by sector in June:
- Health care and social assistance: 80,200, a decrease of 400 from June and up 2,700 year over year.
- Government: 64,000, an increase of 300 from June and 200 year over year.
- Accommodation and food services: 49,400, a decrease of 400 from June and up 3,600 year over year.
- Retail trade: 46,100, down 400 from June and a decline of 500 year over year.
- Manufacturing: 40,500, a gain of 200 from June and 1,100 year over year. Production workers in the sector earned $23.66 per hour in July, a decrease of 6 cents from June and an increase of $1.23 from one year prior.
- Professional and technical services: 30,100, a decrease of 200 from June and an increase of 1,600 year over year.
RI’s Total Labor Force still has not reached its pre-pandemic levels, If was at those pre-pandemic levels the unemployment rate would be higher.