Number of jobs declines
The Rhode Island Department of Labor and Training announced Friday that Rhode Island’s seasonally adjusted unemployment rate for March was 5.6 percent. The rate is up 0.4 of a percentage point from February. The number of unemployed Rhode Island residents rose by 2,300 in March to an estimated 31,500.
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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A year ago, the unemployment rate was 5.5 percent and the jobless level stood at 31,400. Nationally, the unemployment rate for March inched up 0.1 of a percentage point to 5.7 percent. Although Rhode Island’s unemployment rate remained below the national average for the 32 months in a row, the gap between the two figures has narrowed.
“The job market, which had been gaining some ground over the past several months, stalled a bit in March as the number of jobs at Rhode Island businesses fell by 800 last month,” said Adelita S. Orefice, acting R.I. labor department director. “It’s not unusual for the unemployment rate to increase slightly during the early stages of a recovery as more workers enter the labor force looking for work.”
Rhode Island employment decreased in March, following three consecutive months of increases. Businesses in the state reported a decline of 800 jobs (seasonally adjusted), bringing the March job count to 487,400.
