Quarterly Job Growth In RI Better Than Reported
PROVIDENCE, R.I. (AP) â¿¿ A new state analysis of second-quarter job growth in Rhode Island has revealed a better picture than previously reported.
The Department of Labor and Training on Monday revised upward by 5,700 the number of jobs for the period April through June. The new estimate shows 462,800 jobs, up from 457,100.
Sectors including professional and business services, accommodation and food services, health care and social assistance, and retail trade all had over 2,000 more jobs.
The new estimate also shows a job gain of 1,800 year-over-year, rather than a loss of 3,900.The revision comes after an analysis of tax data from 32,000 businesses. The earlier one was based on a monthly survey of 1,700 businesses. Gov. Lincoln Chafee said in a statement he's encouraged to see the improvement in what he called the state's high-growth industries, including health care and hospitality. The state's unemployment rate is 10.5 percent. That's still the second highest rate in the country, but the lowest level in Rhode Island in three-and-a-half years. University of Rhode Island economist Leonard Lardaro said last month he sees "real momentum" in the state's economy.
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