Rhode Island’s seasonally adjusted unemployment rate for February was 5.1 percent, the state Department of Labor and Training announced Friday.
The February jobless rate is up 0.4 of a percentage point from January’s estimate of 4.7 percent. The number of unemployed Rhode Island residents increased by 1,800 over the month to 29,000 in February. A year ago, the jobless level was 28,300 and the state’s unemployment rate stood at 5.0 percent.
Rhode Island's Market Has Changed. Developers, Builders, Investors and Sellers Must Change With It.
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Nationally, the unemployment rate for February inched up 0.1 of a percentage point to 4.8 percent. Compared to last year, the national jobless rate is down 0.6 of a percentage point. Rhode Island’s unemployment rate for February was above the national average.
The Rhode Island job count (seasonally adjusted) was up 2,100 (+0.4%) in February, the largest over-the-month increase since May 2004. Following two consecutive months of job losses, employment in the state rebounded due to gains in several economic sectors, bringing the February job total to 492,900.
The largest employment gains were reflected in educational and health services (+1,100); trade, transportation and utilities (+500); professional and business services (+500); and financial activities (+400). Small monthly losses were noted in manufacturing (-200) and leisure and hospitality (-100).
“The February jobs report is very encouraging as Rhode Island businesses added 2,100 jobs over the month. With increases reported in most major industry sectors, this is the largest monthly job gain in the last 21 months,” said state labor director Adelita S. Orefice.
