CRANSTON – Rhode Island’s seasonally adjusted unemployment rate was 3.4% in October, up three-tenths of a percentage point from September, the R.I. Department of Labor and Training said on Thursday.
The number of unemployed Rhode Island residents in October was 19,500, an increase of 1,700 from September. However, that number is down 9,100 compared to a year ago. At the same time, the number of employed Rhode Island residents also decreased to 558,100, down 1,000 from the previous month but up 15,100 from 2021.
The DLT noted that the number of unemployed R.I. residents is down 80,800 since April 2020, at the height of the COVID-19 pandemic, while the number of employed Rhode Island residents is up 112,000 from the same period.
In total, the labor force in the state was 577,600 in October, up 800 over the month and up 6,100 from October 2021. The state’s unemployment rate was 5% in October 2021, compared to the 3.4% of October 2022.
Rhode Island’s nonfarm jobs totaled 496,200 in October, a decrease of 1,200 from September. These jobs exclude farming and some government, private and nonprofit workers.
The DLT noted through October 2022, the state’s economy has recovered 96,500, or 89.3%, of the jobs lost during the pandemic shutdown. Five employment sectors, construction, manufacturing, professional & technical services, transportation & utilities and wholesale trade have reported more jobs in October 2022 than they had in the month prior to the pandemic shutdown.
Several sectors reported October job losses. The administrative and waste services sector lost 1,100 jobs in October, giving back all the 1,000 jobs it added in September. A loss of 600 jobs was reported in the accommodation and food-services sector, marking two consecutive months of declines totaling 2,100 jobs. Payroll declines in October were noted among many full-service restaurants.
The accommodation and food-services sector lost 300 jobs in the last month, but the sector had the largest over-the year recovery, with its numbers up 4,000. The educational- services sector fell by 500, the first monthly job loss since February. Back-to-back monthly jobs losses were reported in the manufacturing sector, as a 200 job-loss in September was followed by a loss of 400 jobs in October. Many of the manufacturing declines in October came via the durable-goods component.
Seasonally adjusted nonfarm payrolls in Rhode Island by sector in October:
- Health care and social assistance: 80,700, a decrease of 100 in September and up 2,700 year over year.
- Government: 65,900, a decrease of 200 from September and 600 year over year.
- Accommodation and food services: 48,600, a decrease of 600 from September and up 1,200 year over year.
- Retail trade: 46,100, up 200 from September and level year over year
- Manufacturing: 39,900, a decrease of 400 from September but an increase of 400 year over year. Production workers in the sector earned $24.42 per hour in October, an increase of 67 cents from September and an increase of 39 cents from one year prior.
- Professional and technical services: 31,100, an increase of 300 from September and an increase of 200 year over year.
