January 25, 2022
Summary
Rhode Island added 2,600 net payroll jobs and the unemployment rate fell by 0.3 percentage point to 4.8 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, Rhode Island added 28,000 payroll jobs and the unemployment rate fell by 3.1 percentage points from 7.9 percent.
In December, Rhode Island’s private sector added 2,700 net private payroll jobs and over the past twelve months it added 25,000 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 1,701 on net in December, and over the past year employment rose by 29,623.
Rhode Island’s labor force participation rate fell to 63.9 percent in December from 64.1 percent. Since last year, the labor force participation rate rose by 1.6 percentage points.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
Rhode Island Payroll Employment
Rhode Island added 2,600 net payroll jobs, or 0.5 percent, on a seasonally adjusted basis during December. In the prior month, Rhode Island added 3,400 jobs. Over the past twelve months, Rhode Island added 28,000 payroll jobs, or 6.1 percent. Rhode Island nonfarm payroll employment had increased in 11 of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. Rhode Island is tied for 6th among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, Rhode Island’s private-sector added 2,700 jobs, or approximately 0.6 percent. The private-sector in Rhode Island added 3,300 jobs in the prior month. Over the past twelve months, private-sector payrolls in Rhode Island added 25,000, or 6.3 percent. Rhode Island private-sector payroll employment has increased in 11 of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. Rhode Island is tied for 10th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Trade, Transportation, and Utilities (900) and Leisure and Hospitality (800). The poorest performing sectors during the month were Government (-100) and Construction (-200).
The best performing sectors during the last twelve months were Leisure and Hospitality (10,300) and Education and Health Services (3,900). The poorest performing sectors during the last twelve months were Mining and Logging (0) and Financial Activities (-100).
Rhode Island Labor Force Statistics
Labor Force Participation
The labor force participation rate in Rhode Island fell to 63.9 percent in December from 64.1 percent in the prior month. At a labor force participation rate of 63.9 percent, Rhode Island ranks 15th in the nation. The labor force participation rate in Rhode Island rose by 1.6 percentage points from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in Rhode Island was 66.9 percent in September 2021. The series high for the labor force participation rate in Rhode Island last occurred in January 2007 when the labor force participation rate hit 68.4 percent. The 10-year low for the labor force participation rate was 59.4 percent in June 2020. This also represents the series low for the labor force participation rate in Rhode Island.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the Rhode Island civilian noninstitutionalized population 16 years and older counted as employed, in December remained unchanged. At 60.8 percent, Rhode Island is tied for 18th among state employment-to-population ratios in the nation. The employment-to-population ratio in Rhode Island rose by 3.4 percentage points from a year earlier.
The 10-year high for the employment-to-population ratio in Rhode Island was 63.4 percent in September 2021. The series high for the employment-to-population ratio in Rhode Island last occurred in January 1989 when the employment-to-population ratio hit 65.5 percent. The 10-year low for the employment-to-population ratio was 52.2 percent in April 2020. This also represents the series low for the employment-to-population ratio in Rhode Island.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.