The RI job market is in even worse shape than we thought

State officials released their annual revised employment data Thursday, and the news is grim.

Until now, it had been possible to hold out hope the annual February/March benchmark revisions to the employment data – which replaces the original survey results with more comprehensive data – would show a brighter picture in the job market than initially reported. But the new data dashes those hopes.

As this chart shows, Rhode Island’s unemployment rate was higher than initially reported during all but one month of 2013 (January), finishing the year at 9.3% rather than 9.1%:RI unemployment rate original vs benchmark revised March 2014That wouldn’t always be bad news – sometimes the unemployment rate goes up because more people are joining the work force, out of growing optimism about job prospects. But that wasn’t the case here: the revisions show even more Rhode Islanders left the labor force – 9,900 total – during 2013 than originally reported, with about two-thirds of that reduction caused by a decline in the number of employed residents.

All of those numbers are seasonally adjusted. There was a bit of good news in the non-seasonally-adjusted numbers for how many jobs were on the payrolls of Rhode Island employers as of December: 470,800, up from the initial estimate of 467,700. However, even that number was below the 471,900 total a year earlier.

DLT also noted that the December unemployment rate of 9.3% was the lowest since November 2008.

• Related: Watch: The 5 charts you need to see to get RI’s jobs crisis (Jan. 23)

An earlier version of this post incorrectly said unemployment was higher in all but two months of 2013.

10 thoughts on “The RI job market is in even worse shape than we thought

  1. Huh? Unemployment numbers that were not as good as some thought? Reminds me of our current federal government. Every number measured is more often than not unreliable and is revised within 30 days or so.

  2. entrophic. Even when you get a job. the culture of ‘not enough’ for me. permeates. Underqualified upper management coming up against well qualified highly educated entry level candidates.Those type of Scarcity Politics cause people to dig into position through rougher measures. 20 years ago (or even 10) most entry level jobs were not being filled by B.S/ M.A candidates.New tools, new skills…Longer term UnDerrremployment aka lack of job opportunity in higher positions is providing restructure of these new entry level personel to be much more capable/incentivized/ than even some of the middle management in place.

  3. This just underscores the fact that these figures are useless. When people fall out of the system, the numbers fall. When you have a state analyst make statements that the lower unemployment numbers is actual job growth just tells me that they have no idea what is going on. RI is a corrupted state and may already be too far gone to save. When you have a General Treasurer who drives to Boston and can’t believe how much commerce is going on up there just underscores how clueless these people are. RI is becoming a suburb of New England – a bedroom community. The government has killed off all the economic opportunity with high taxes and b/s.

    • forget the stats.

      all you have to do is look around your own family and neighborhood.

      everbody has college educated kids who have moved out of state and have good jobs or stuck in ri making $12 per hour living with mom and dad.

      the neighbors and family members that were laid off at 55-60 years old and never got a job after that, even though they have been looking for a job for years.

      college grads, anyone under 35-40 years old would be wise to buy a one way ticket anywhere out of ri.

      you can always visit the beach on vacation…. but don’t forget to carry out your own trash.

  4. many rhode islanders work in Massachusetts. check the traffic headed to the boston area. who knows what the true unemployment figure would. certainly much higher than 9.5%. oh yes we all believe facts and figures from the feds to the local liars.

  5. This is also the fault of the media. They bring up employed numbers to get the consumers confident and then they buy. If the consumer new exactly what was going on in this state they would pack up and move. I’ld like to see an audit of the state records done acurately. Then lets see where all the tax pays money is going. (Truth not Lies) Then all these non essentials would be weeded out along with their benefits. Its time the state employees are treated like general employees are in the private sector. Shame on all our politician. Governor Chafee is the worse of all. Please talk to your kids and so them what their futures look like if they do not partake in voting most of these fat (money wise) politician out of office. Also its too bad we can not adjust their pays down as most of the unemployed here are taking deep cuts in their hourly rate just to get by and some not even that. OUR YOUTH NEEDS TO VOTE.

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