RI Unemployment Rate Drops to 2.6%, RI-Based Jobs Up 1,400

RI Unemployment Rate Drops to 2.6%, RI-Based Jobs Up 1,400

Rhode Island businesses added 1,400 jobs in September as the state’s unemployment rate dropped to 2.6 percent, according to the Rhode Island Department of Labor and Training.

Over the year, jobs were down 3,500 from September 2022 and the unemployment rate was down eight-tenths of a percentage point. Through September, Rhode Island has recovered 96,600 or 89.2 percent of the 108,300 jobs lost during the Covid-19 shutdown.

Rhode Island’s Labor Force

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The September unemployment rate was 2.6 percent, down one-tenth of a percentage point from the August rate of 2.7 percent. Last year the rate was 3.4 percent in September.       

The U.S. unemployment rate was 3.8 percent in September, unchanged from August. The U.S. rate was 3.5 percent in September 2022.

The number of unemployed Rhode Island residents — those residents classified as available for and actively seeking employment — was 14,900, down 300 from August. The number of unemployed residents decreased by 4,400 over the year.

“We’re pleased to see growth in the state’s labor force and the number of working Rhode Islanders for the sixth consecutive month,” said Governor Dan McKee. “Rhode Islanders are hard at work, reflecting a thriving economy and underlining the state's commitment to economic development and employment opportunities. As more Rhode Islanders find meaningful employment, the entire community benefits. Increased employment opportunities not only improve the quality of life for individuals and families but also contribute to the overall prosperity and well-being of the state.” 

Positive Numbers

The number of employed Rhode Island residents was 557,000, up 1,200 over the month and up 7,500 over the year.

The Rhode Island labor force totaled 571,900 in September, up 900 over the month and up 3,100 from September 2022.

The labor force participation rate was 63.4 percent in September, up from 63.3 in August and up from 63.2 in September 2022. Nationally, 62.8 percent of US residents participated in the labor force.

Unemployment Insurance claims* for first-time filers averaged 680 in September was down from 744 in August. Claims were up an average of 30 a week from September 2022 filings.