Unemployment rate is lowest since 2001
Tourism/Accommodations/Food Services and Financial Service employment reach record highs
PROVIDENCE, RI - Governor Gina M. Raimondo offered the following statement today on the monthly release of jobs data by the U.S. Department of Labor Bureau of Labor Statistics:
"This jobs report is another clear sign that our approach to economic development, commitment to job training and support for tourism is working. We cannot abandon the new approach we're taking and put this progress at risk. So long as I am Governor, I will stand up with working families to ensure that every person has a shot to compete for a good job, and I'll fight to protect the progress we've made together."
The June Jobs Report shows that Rhode Island added 2,500 new jobs last month and set another all-time high jobs record. The state's unemployment rate also fell to 4.3 percent - the lowest unemployment rate since 2001. (The nation's unemployment rate jumped 0.2 percentage points last month.) Earlier this summer, R.I. Tourism released data showing a boost to tourism that was sparked by the "Fun Sized" digital advertising campaign. The June Jobs Report validates those findings and shows that accommodation/food service employment in Rhode Island is at an all-time high (50,100 jobs). Employment in financial services and financial activities also reached an all-time high last month (37,100 jobs).
Since Governor Raimondo's been in office, the state has totally revamped its approach to economic development, with a focus on attracting new businesses, supporting existing companies and creating new, innovated job training programs designed to help Rhode Islanders get a job and get ahead. The Real Jobs Rhode Island program has helped nearly 3,500 Rhode Islanders get the training needed to compete in today's economy.
Under her leadership, the state has lowered corporate income taxes and is competing with other states for new business. Twenty-seven companies have moved to Rhode Island or expanded here because of the Governor's effective and responsible incentive programs. Those 27 companies will create approximately 3,200 new jobs in the next 10 years. Projects and hiring supported by Governor Raimondo's economic development programs (Qualified Jobs and Rebuild RI) will add nearly $600 million to the state's economy each year.
Earlier this week, Governor Raimondo announced that a new public-private partnership will bring a new job training and higher education center to Woonsocket.