Rhode Island unemployment rate remains at 4.2 percent

Local News

PROVIDENCE, R.I. (AP) – Rhode Island’s unemployment rate in October remained at 4.2 percent, unchanged from the previous month.

The state Department of Labor and Training on Thursday said the seasonally adjusted unemployment rate had fallen nine-tenths of a percentage point from October 2016, when the rate was 5.1 percent.

The U.S. unemployment rate for the month stood at 4.1 percent.

The agency says the number of unemployed residents dropped by more than 5,000 since a year ago, while the number of employed residents rose over the same period by nearly 8,000.

The number of Rhode Island-based jobs was up by 4,600 from a year ago. But the agency says nonfarm employment has fallen for three consecutive months by a total of 3,900 jobs, to 495,800 in October.

In Massachusetts, the jobless rate has dropped for the second month in a row.

The Office of Labor and Workforce Development said Thursday the jobless rate was 3.7 percent in October, down from September’s 3.9 percent rate. The rate stood at 4.2 percent in August.

The U.S. Bureau of Labor Statistics also released preliminary estimates on Thursday showing the state gained 4,800 jobs in October. The state has picked up an estimated 69,000 jobs in the past 12 months.

Secretary of Labor and Workforce Development Rosalin Acosta says the lower unemployment rate and jobs growth indicate the “ongoing strength of the economy in Massachusetts.” But she adds not all communities and regions of the state are benefiting equally from this growth.

The U.S. unemployment rate stood at 4.1 percent in October.

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