NEW: Unemployment at 10.8% in RI

NEW: Unemployment at 10.8% in RI

Rhode Island's unemployment rate continues to be 10.8% as reported by the Rhode Island Department of Labor and Training for the month of July. For back to back months, RI's unemployment rate has held steady, even though the number of employed dropped more than 2,700 from June.

However, hope springs abundant for the unemployed in Rhode Island. According to an economic data report released Friday by Rhode Island’s Department of Labor and Training, the number of jobs in Rhode Island is increasing. For the month of July, employers reported nearly 1,300 more jobs in the state. This welcome news is reflective of Rhode Island’s larger trend of job creation. For the past six months, a total of 10,000 Rhode Island jobs have been created, lowering the unemployment rate as a result.

Although Rhode Island’s unemployment rate is still much higher than the nation’s national average (9.1% in July) the current state’s rate is much better than what our state was only a year ago. Last July, Rhode Island’s unemployment rate was an abysmal 11.6%. Clearly, improvements are being made, but the road to economic recovery is a long and daunting path and Rhode Island still has leagues to go.
 

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