NEW: RI Unemployment Rate Drops To 9.4%

Thursday, March 21, 2013

GoLocalProv Business Team

Rhode Island's seasonally adjusted unemployment rate for February 2013 has dropped to 9.4 percent, the lowest it has been since December, 2008, according to the RI Department of Labor and Training. 

The rate dropped four-tenths of a percentage point from the January 2013 rate and one and three-tenths percentage points from the February 2012 rate. By contrast, the US unemployment rate was 7.7 percent in February 2013, down two-tenths of a percentage point from the previous month and down six-tenths of a percentage point over the year. 

The number of unemployed RI residents—those residents classified as available for and actively seeking employment—was 53,000, down 1,900 from the January figure of 54,900. This represents the eighth consecutive over-the-month decrease and the lowest unemployment level since November 2008. Over the year, the number of unemployed dropped by 6,600.

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The number of employed RI residents was up 1,300 over the January figures, increasing to 508,200 in February. This is the highest employment level since February 2009. Over the year, the number of employed RI residents increased 9,600 from February 2012.

The RI labor force totaled 561,200 in February 2013, down 600 from January 2012 but up 3,000 from February 2012.  

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