RI Unemployment Rate Drops to 6.5 Percent in January
GoLocalProv News Team
RI Unemployment Rate Drops to 6.5 Percent in January
This marks the lowest unemployment rate since February 2008.
The national unemployment rate was 5.7 percent in January 2015, up one-tenth of a percentage point from the previous month and down nine-tenths of a percentage point over the year.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe number of unemployed RI residents, defined as those who are available for and actively seeking employment, was 35,700, which is down 1,500 from the December figure of 37,200. This represents the lowest unemployment level since December 2007. Over the year, the number of unemployed dropped by 11,800.
8 Discouraging Facts About Unemployment in RI
Worst in the Country
9.2% unemployment rate for Jan. 2014.
Although the national unemployment rate for January was 6.6%, Rhode Island's jobless rate was 9.2% – making it the highest in the nation. The 9.2% figure is one-tenth of a percentage point lower than it was in December 2013.
Source of data: RI DLT
Number of Unemployed
64 consecutive months with 50,000 or more unemployed.
The number of unemployed Rhode Islanders decreased from 51,055 in Dec. 2013 to 50,600 in Jan. 2014. That said, the number of unemployed Rhode Islanders has not been below 50,000 since September 2008, which is 64 months.
North of Nine
Above 9% unemployment for 63 straight months.
So just how long has Rhode Island's unemployment rate been above 9 percent? According to RI Department of Labor and Training statistics, the state's jobless rate has been over 9% since November 2008. That's a staggering 63 consecutive months.
Source of data: RI DLT
Months at the Bottom
Seven consecutive months with the worst unemployment rate.
Rhode Island's unemployment rate has been worst in country each month since July 2013. Prior to that, the state was tied for worst in the nation with Nevada May 2013 when both states reported a jobless rate of 9.5%. As of Dec. 2013, Nevada's unemployment rate has dipped to 8.8%.
Sources of data: RI DLT; Bureau of Labor Statistics
Worst in New England
Lagging behind the rest of New England in job recovery.
The rest of New England's states have not reported their unemployment rates for Jan. 2014, but the most recent Bureau of Labor Statistics data shows that their respective jobless rates pale in comparison to Rhode Island. In fact the average New England unemployment rate for Dec. 2013 was 6.9%.
Here's the complete list:
- Vermont 4.2%
- New Hampshire 5.2%
- Massachusetts 6.4%
- Connecticut 6.9%
- Maine 7.4%
Source of data: Bureau of Labor Statistics
Number of Employed Residents
Nearly 6,500 less employed residents than a year ago.
Rhode Island's unemployment rate may be lower than it was in January 2013, but this isn't reflected in the number of employed Rhode Islanders. In fact, there are 6,498 less people employed now than in Jan. 2013.
Source of data: RI DLT
Shrinking Labor Force
Year-over-year decrease in total labor force.
Rhode Island's labor force increased by 200 to 550,300 in January, but the present workforce has shrunk by 9,700 compared to January 2013.
Source of data: RI DLT
2013 Average
Next to worst in the nation for 2013.
Rhode Island's average unemployment rate for 2013 was 9.5%, which was the second highest in the country, after Nevada.
Sources of data: RI DLT; Bureau of Labor Statistics
Photo: Flickr/bytemarks
