Rhode Island-Based Jobs Rose 700 from May; June Unemployment Rate Drops to 2.9 Percent

Published on Thursday, July 20, 2023

CRANSTON, R.I. – Rhode Island businesses added 700 jobs in June as the state’s unemployment rate dropped to 2.9 percent. Over the year, jobs were down 1,900 from June 2022 and the unemployment rate was down two- tenths of a percentage point. Through June, Rhode Island has recovered 96,200 or 88.8 percent of the 108,300 jobs lost during the Covid-19 shutdown.

Rhode Island’s Labor Force

The June unemployment rate was 2.9 percent, down one-tenth of a percentage point from the May rate of 3.0 percent. Last year the rate was 3.1 percent in June.

The U.S. unemployment rate was 3.6 percent in June, down one-tenth of a percentage point from May. The U.S. rate was 3.6 percent in June 2022.

The number of unemployed Rhode Island residents — those residents classified as available for and actively seeking employment — was 16,800, unchanged from May. The number of unemployed residents decreased by 700 over the year.

The number of employed Rhode Island residents was 553,100, up 1,500 over the month and down 2,300 over the year.

The Rhode Island labor force totaled 569,900 in June, up 1,500 over the month and down 3,000 from June 2022.

The labor force participation rate was 63.2 percent in June, up from 63.1 in May, and down from 63.7 in June 2022. Nationally, 62.6 percent of US residents participated in the labor force.

Unemployment Insurance claims* for first-time filers averaged 734 in June up from 714 in May. Claims were up an average of 76 a week from June 2022 filings.

Rhode Island-Based Jobs

The number of Rhode Island total nonfarm jobs was 495,200 in June, an increase of 700 jobs from the revised May jobs figure of 494,500. Over the year, total nonfarm jobs are down 1,900 or 0.4 percent. Nationally, jobs were up 2.5 percent from a year ago. The number of private sector jobs in Rhode Island remained unchanged in June, and down 4,200 from June 2022.

June Nonfarm Payroll Notes…

  • Total nonfarm jobs in Rhode Island rose for the first time since February 2023.
  • The May jobs report was revised by 200, from a reported loss of 1,200 jobs from April to 1,000 jobs.
  • Six employment sectors reported monthly gains in June.
  • The largest over-the-month gain was reported in the Administrative & Waste Services sector, which grew by 1,100 jobs, followed by the Health Care & Social Assistance sector (+800).
  • The Construction Sector added 200 jobs in June, the first monthly job gain since February.
  • Government jobs were up 700 with Local Government adding 500 jobs and State Government adding 200 jobs.

Manufacturing Hours and Earnings

In June, production workers in the Manufacturing sector earned $24.20 per hour, down thirty-one cents from May, but up forty-eight cents from June 2022.

Manufacturing employees worked an average of 38.8 hours per week in June, up two-tenths of an hour over the month, but down one and three-tenths hours from a year ago.

* The average number of verified initial claims filed during the week that includes the 12th of the month and the three weeks prior.

The Department of Labor and Training is scheduled to release the July 2023 labor force figures and job counts at 10:00 a.m. on Thursday, August 17, 2023.

###