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Fri June 17, 2011
Unemployment rate remains level
By FLO JONIC
PROVIDENCE, RI – Rhode Island's slow but steady decline in the unemployment rate came to a stop in May.
After five months of declines, Rhode Island's unemployment rate stalled in May, registering 10.9 percent - the same as April. That's almost two percent higher than the national unemployment rate and down just 8/10ths of one percent from a year ago.
University of Rhode Island economics professor Leonard Lardaro says an untrained labor force is a key factor in the unemployment crisis.
"You can cut taxes all you want to try and attract firms," he says. "If you don't have a sufficiently skilled labor force no one's going to come or no one's going to expand."
The number of unemployed residents dropped by 100 in May but Lardaro says that's probably people who have just given up.
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