According to the Rhode Island Labor Department, businesses in the state added 600 jobs in January, leading to a yearly increase of 7,400 roles. The unemployment rate increased slightly to 4.6 percent, the highest level since October 2021. Despite this, the labor force has been steady at 4.5 percent for the past five months.
The rise in unemployment is attributed to seasonal factors such as school closings and layoffs in construction and landscaping. First-time applicants for unemployment claims nearly doubled in a month, with 2,260 claims in January compared to 1,276 in December.
The job market in New England is showing signs of cooling, with fewer job openings and an increase in layoffs. In Rhode Island, the education sector led the hiring in January, adding 900 jobs, followed by transportation and retail hiring. However, the construction sector saw a loss of 300 jobs.
Despite a slight decrease in the number of employed individuals in January, the state’s labor force has increased by 3,900 compared to the previous year. This indicates that more people are entering the labor force rather than losing their jobs. The overall trend suggests a stable but slightly challenging job market environment in Rhode Island.
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