Unemployment rate drops again, hits low point of 3.8 percent
PROVIDENCE, R.I. (AP) — Rhode Island’s unemployment rate ticked down to 3.8 percent in October, reaching its lowest point in nearly 30 years.
Democratic Gov. Gina Raimondo said Thursday it’s the lowest rate seen in Rhode Island since May 1989, and the rate has now been lower than 5 percent for two years.
The state Department of Labor and Training says the October rate is one-tenth of a percentage point lower than in September, and one-tenth of a percentage point higher than the national rate.
The state’s rate is seven-tenths of a percentage point lower than October 2017.
The data shows the number of Rhode Island-based jobs is up by 500, to 503,100. The job count is up 6,300 from October 2017.
Raimondo says the data shows that the state’s economy continues growing stronger.