Job report: Rhode Island’s unemployment rate dips below 3% for first time in decades

PROVIDENCE, R.I. (WLNE) — Gov. Dan McKee released May’s job report Thursday that showed Rhode Island’s unemployment rate dipped below 3% for the first time in decades.

The unemployment rate was 2.9% in May and hasn’t fallen that low in nearly 30 years, the governor’s office said. In April the rate stood at 3.2%.

The Department of Labor and Training said that the rate was 6% a year ago, and the number of unemployed residents has fallen by 17,800.

“The numbers in today’s jobs report speak for themselves: more people are getting back to work in Rhode Island and we are maintaining our economic momentum,” said McKee. “In fact, we’ve recovered nearly 90 percent of all the jobs lost during the pandemic shutdown.”

Since the start of the pandemic the total of unemployed Rhode Islander’s has dropped by 83,800, according to the report.

“In May, Rhode Island-based jobs totaled 496,800, representing a gain of 900 jobs from the April revised figure of 495,900.  The local economy has added 5,500 jobs over the past three months, an average of 1,800 jobs per month,” added the department.

The Administrative & Waste Services sector saw the highest job growth and added 500 jobs in May.