Rhode Island-Based Jobs Fell by 2,100 from September; October Unemployment Rate Increases to 5.4 Percent

Rhode Island-Based Jobs Fell by 2,100 from September; October Unemployment Rate Increases to 5.4 Percent

November 18, 2021 Off By administrator

Rhode Island’s seasonally adjusted unemployment rate was 5.4 percent in October, the Department of Labor and Training announced Thursday. The October rate was up two-tenths of a percentage point from the September rate of 5.2 percent. Last year the rate was 7.3 percent in October.

The U.S. unemployment rate was 4.6 percent in October, down two-tenths of a percentage point from September. The U.S. rate was 6.9 percent in October 2020.

The number of unemployed Rhode Island residents — those residents classified as available for and actively seeking employment — was 29,500, down 700 from September. The number of unemployed residents decreased by 9,400 over the year. Since April 2020, the height of pandemic-related shutdowns, the number of unemployed RI residents is down 65,200.

The number of employed Rhode Island residents was 522,100, up 25,200 over the year. Since April 2020 the number of employed Rhode Island residents is up 71,100.

The Rhode Island labor force totaled 551,700 in October, up 15,800 from October 2020 and up 6,000 from April 2020.

Since February 2020, the month prior to the pandemic-related shutdowns, the number of unemployed RI residents is up 7,300 and the number of employed RI residents is down 17,700. Currently, there are 10,300 fewer RI residents participating in the labor force than there were prior to the start of the pandemic.

Rhode Island-Based Jobs

Total nonfarm payroll employment in Rhode Island totaled 479,200 in October, reflecting a loss of 2,100 jobs from the revised September job count of 481,300. The monthly job loss in October marks the first job loss since December 2020.

The number of jobs in the Government sector fell by 1,600 in October mainly due to losses reported in state government.

After reporting a gain of 400 jobs in September, employment in Professional & Business Services declined by 500 in October. In addition, the Educational Services sector also reported a loss of 500 jobs from September.

The Arts, Entertainment & Recreation and Financial Activities sectors both lost 300 jobs in October. The Financial Activities sector has reported three consecutive months of job declines, while the Arts, Entertainment & Recreation sector has reported job losses in the past two consecutive months.

Lastly, the number of jobs in the Construction sector fell by 200 in October, the first monthly job decline reported since July. Offsetting the October job declines was a gain of 400 jobs noted in the Accommodation & Food Services sector.

A gain of 200 jobs was reported in each of the Health Care & Social Assistance, Other Services and Transportation & Utilities sectors.

The Information, Manufacturing and Retail Trade sectors all reported a gain of 100 jobs in October, while the number of jobs in the Wholesale Trade and Mining & Logging sectors remained unchanged.

Due to the unprecedented pandemic-related shutdowns and restrictions implemented in April 2020, the number of jobs in Rhode…

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