RI Adds 4,200 Jobs in April—First Positive Job Growth Month in 2019 UPDATED
Thursday, May 16, 2019
GoLocalProv Business Team
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Governor Gina Raimondo PHOTO: Richard McCaffrey
Rhode Island added 4,200 jobs in the month of April, bringing the total number of jobs to 500,300,
according to the Department of Labor and Training (DLT).
This is the first positive month for jobs in 2019 for Rhode Island.
“We’re continuing to make key investments in the fundamentals of our economy, and this report is another sign that our strategy is working. We’ve trained thousands of workers, recruited dozens of new companies, supported hundreds of small businesses, and invested millions in roads, bridges and schools," said Governor Gina Raimondo.
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"These efforts have resulted in record job numbers and the lowest unemployment rate in three decades. We need to build on this momentum by doubling down on the job training and economic development programs that have helped turned our economy around,” she added.
URI Economist Len Lardaro has warned the Rhode Island may be edging towards a recession.
"Rhode Island ended the first quarter on a continuing note of concern. The Current Conditions Index rose from its downwardly revised value of 33 for February to only 50 in March, its neutral value, as only six of the twelve indicators improved. For two of the three months in the first quarter, the CCI failed to attain expansion values. In fact, the average of the CCI values for the first quarter is close to its neutral value of 50. Rhode Island’s economy didn’t just begin to slow in the first quarter of this year. The Current Conditions Index has shown that since the end of 2015, economic performance here has been spotty at best, and consistently disappointing," reported Lardaro
Read the rest of his report HERE.
RI Adds Jobs
Nonfarm payrolls in Rhode Island rose to 500,300 in April, an increase of 4,200 jobs from the March revised payroll estimate of 496,100.
The number of employed Rhode Island residents was 532,600, down 300 from March.
The Rhode Island labor force totaled 553,000 in April 2019, down 1,100 from March 2019, and down 2,600 from April 2018 (554,100).
Unemployment Rate Drops
The unemployment rate dropped one-tenth of a percentage point to 3.7 percent.
The number of unemployed Rhode Island residents was 20,400, down 800 from March.
Since April of 2018, the number of unemployed decreased by 2,500.
The U.S. unemployment rate was 3.6 percent in April 2019, down two-tenths of a percentage point from the previous month and down three-tenths of a percentage point over the year.
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