Unemployment rate drops but Rhode Island loses 2,400 jobs
PROVIDENCE, R.I. (AP) — Rhode Island’s unemployment rate ticked down to 4.0 percent in August, but the number of jobs in the state fell by 2,400.
The state Department of Labor and Training says the rate was one-tenth of a percentage point lower than in July.
The state’s unemployment rate is one-tenth of a percentage point higher than the national rate. It’s four-tenths of a percentage point lower than a year ago.
The data shows that the number of jobs based in Rhode Island dropped to 501,900, a decrease of 2,400 jobs from the revised July estimate. More than half of the jobs were lost in the accommodation and food services sector.
August marks the first monthly job decline since March. The state still has 6,400 more jobs than it did a year ago.