This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RI Unemployment Rate Ticks Down To 9.8 Percent

By ERIKA NIEDOWSKI

PROVIDENCE, R.I. (AP) â¿¿ Rhode Island's chronically high unemployment rate ticked down again â¿¿ to its lowest level in four years â¿¿ though the size of the workforce shrunk from the previous month, according to statistics released Thursday.

The state Department of Labor and Training said the jobless rate in January was 9.8 percent, down one-tenth of 1 percentage point from December and a full point from a year ago.

December was the first time the state unemployment rate fell under 10 percent since February 2009, although Rhode Island had the highest jobless rate in the country that month.

The report had good news on the hiring front: The number of Rhode Island-based jobs was 468,400, a gain of 2,800 from the revised December estimates. The two strongest sectors were accommodations and food services and retail trade, which added a total of 2,700 positions.

Still, the size of the labor force â¿¿ while up from a year ago â¿¿ shrunk in January by 1,400, to 561,800. The number of employed residents was also down 700, to 506,900.

The U.S. jobless rate was 7.9 percent, up one-tenth of 1 percentage point from December. A year ago, the national rate was 8.3 percent.

Charlie Fogarty, director of the Department of Labor and Training, said the state economy continues to move in the right direction and noted that the recovery in Rhode Island over the past year has taken place at a much faster rate than the nation as a whole.

"The trend is good, we're picking up steam and we want to see it improve," he said. "Obviously, we want to see a more vigorous and robust recovery."

Statistics released for all 50 states last week showed Rhode Island had the highest jobless rate nationwide in December. Nevada and California were tied for second-highest, with 9.8 percent.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,629.46 +188.87 1.08%
S&P 500 2,093.33 +25.69 1.24%
NASDAQ 5,091.1030 +51.3270 1.02%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs