State Unemployment Rate Dips
Friday, March 18, 2011
The state unemployment rate for the month of February dropped to 11.2 percent from the January rate of 11.3 percent, according to the state Department of Labor and Training.
This decrease in unemployment directly correlates with the one-tenth of a percentage point drop over the month that was experienced on a national level.
There are currently an estimated 64,100 unemployed residents in the state, which is 1,000 less than the figure reported in January, and a 3,700 person decrease over the year. At the same time, the number of employed Rhode Island residents decreased by 1,300 from January, but this figure increased by 3,800 from this time last year.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe month shows a significant increase in Rhode-Island based jobs, with an estimated gain of 2,600 jobs since January. Of these gains, 1,000 jobs were added to the Professional and Business Services, as a result of growth in the accounting, tax preparation, and business support groups. Other sectors that experienced Job growth include Accommodation and Food Services, Arts, Entertainment and Recreation, Construction, Healthcare, Manufacturing, and Educational Services.
Not every Rhode Island economic sector shared in February’s surge in job creation. The only two sectors that experienced losses were Financial Activities and Government, while Retail Trade, Transportation, Natural Resource, and Other Services saw no negligible change. In general however, job gains over the month corresponded with job gains over the year, which were up 2,200.
These reported unemployment figures are derived from a survey of state households that measured the employment status of Rhode Islanders.
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