The state’s unemployment rate ticked down in January, compared to the same month a year ago. The rate is now 6.5 percent; the state’s lowest since the start of the recession.
That’s down more than two percentage points since January of last year (when it stood at 8.6). It’s been seven years since the state’s unemployment rate has been this low, back in February of 2008. Despite the good news, Rhode Island’s unemployment rate remains higher than the national average, of 5.7 percent.
Providence Business News Editor Mark Murphy joins Rhode Island Public Radio's Dave Fallon for our weekly business segment The Bottom Line.
This week Dave and Mark sit down with RIPR Political Analyst Scott MacKay to talk about Governor Gina Raimondo's forecast for the state's economy, her pledge to bring new jobs to Rhode Island, and the challenge as she crafts her first state budget.
When to Listen
You can hear The Bottom Line each Friday at 5:50pm.
A bill scheduled to be introduced Thursday would use tax credits to try to spark the creation of jobs.
State Representative Joseph Shekarchi (D-Warwick) is introducing his job development tax credit bill for the third time. He said it’s modeled on a program that incentivizes larger employers to create jobs by lowering their taxes.
Numbers out of the Rhode Island Department of Labor and Training show there are more people working than originally thought.
The DLT compared quarterly tax data from employers with numbers out of the Bureau of Labor Statistics that are estimates based on survey sampling. The tax data show Rhode Island gained 6,500 jobs between September of 2012 and September of 2013. That’s double the number based on federal estimates.