Continue to Trend Down;
August 15, 2008
The RI Department of Labor
and Training announced today that the state’s July 2008 monthly job
count totaled 480,600, a decline of 1,700 from June’s revised
employment level of 482,300. July marks the seventh straight month of
job losses for both
The RI seasonally adjusted
unemployment rate continued to trend upward in July, climbing to 7.7
percent, its highest level since September 1993 (7.7%). The national
jobless rate rose 0.2 of a percentage over the month to a four-year high
of 5.7 percent in July.
July, the number of unemployed Rhode Island residents—those residents
who classify themselves as available for and actively seeking
employment—grew to 44,300, representing a monthly increase of 1,600
and the highest jobless level since February 1993 (44,400). On a
year-over-year comparison, the number of unemployed residents increased
15,300 from July 2007 to July 2008.
On a related note, the number of employed RI residents totaled 528,900 in July 2008, reflecting a drop of 600 from the previous month. On a year-over-year basis, the number of employed RI residents fell 18,200 between July 2007 and July 2008.
the month, the Government sector reported the largest employment drop
(-700), due to declines in the state and local government segments.
Losses in state government were primarily attributable to the retirement
of a substantial number of state employees at the end of the fiscal
year. Job cutbacks of 200
each were reported in the Construction, Financial Activities,
Professional & Business Services, and Accommodation & Food
Services sectors. The Wholesale Trade, Information and Health Care &
Social Assistance sectors each lost 100 jobs.
Educational Services sector reported the only monthly job gain (+100),
while employment remained stable in Manufacturing; Retail Trade;
Transportation & Utilities; Arts, Entertainment & Recreation;
Natural Resources & Mining; and Other Services.
July 2007 to July 2008, RI jobs declined 13,000, a 2.6 percent decrease.
This is the steepest annual employment decline since January 1992
largest annual employment losses occurred in the Manufacturing (-3,100),
Retail Trade (-2,100), Professional & Business Services (-2,000),
Government (-1,600), Financial
Activities (-1,300), Construction (-1,100) and Other Services
(-1,000) sectors. Smaller losses were noted in Transportation
& Utilities (-500); Accommodation & Food Services (-400); Arts,
Entertainment & Recreation (-300); Wholesale Trade (-300); and
Natural Resources & Mining (-100).
two industry sectors experienced over-the-year job gains. The
Information and Educational Services sectors each reported an
over-the-year increase of 400 jobs. Employment in Health Care &
Social Assistance was unchanged from July 2007 to July 2008.
July 2008, production workers in the Manufacturing sector earned $13.91
per hour. The average hourly production wage was up four cents from June
but remained even compared to a year ago July. Manufacturing employees
worked an average of 38.2 hours per week in July, down seven-tenths of
an hour over the month and four-tenths of an hour since July 2007.
Note: Current month figures are preliminary; prior month and year
are revised. The unemployment figures are based largely on a survey of
RI Department of Labor and Training