Statement from Governor Chafee Regarding Latest Monthly Employment Statistics

With the latest employment metrics showing a decline in the unemployment rate for five consecutive months and an increase in the number of employed Rhode Island residents and labor force for four consecutive months, Governor Lincoln D. Chafee said today, “The latest numbers are the best we have seen. When I took office in January of 2011, the unemployment rate was 11.4 percent and now it’s 8.3 percent. Rhode Island’s approach to economic development continues to pay dividends. Through investments in education, infrastructure and workforce development, we are building our state’s economy in the right manner and creating a solid foundation for the future.”

Governor Chafee is heartened that Rhode Island’s seasonally adjusted unemployment rate continues to drop precipitously and is at its lowest level since August 2008. Among the highlights from the latest metrics:

• The April drop of 2,300 in the number of unemployed marks the ninth consecutive month the number has fallen and is the largest one-month decrease on record.
• The number of employed Rhode Island residents increased by 3,600 over the month, the largest one-month increase on record.
• Rhode Island-based jobs were up 4,100 during the first quarter of 2014 the largest first quarter job gain since 1992. In April, another 700 jobs were added.
• Since the recession ended, we have regained 50.5 percent, or 20,100, of the total jobs lost during the recession.
• Rhode Island has also regained 59.2 percent, or 21,500, of the private sector jobs lost during that same time.