Unemployment Level for Rhode Island
UNEMPLOYRI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,200.00
Year-over-Year Change
-24.93%
Date Range
10/1/2003 - 7/1/2024
Summary
The Unemployment Level for Rhode Island is a key economic indicator that measures the total number of people in Rhode Island who are actively seeking work but unable to find employment.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This metric is closely tracked by economists and policymakers to assess the overall health of the Rhode Island labor market and gauge the effectiveness of economic policies and programs designed to create jobs and support employment.
Methodology
The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Historical Context
Unemployment levels are a critical input for decisions around monetary and fiscal policy at the state and national levels.
Key Facts
- Rhode Island's unemployment rate was 3.9% as of January 2023.
- The state's unemployment level has steadily declined from a pandemic high of 18.1% in April 2020.
- Job growth in Rhode Island has outpaced the national average over the past year.
FAQs
Q: What does this economic trend measure?
A: The Unemployment Level for Rhode Island measures the total number of residents in the state who are actively seeking work but unable to find employment.
Q: Why is this trend relevant for users or analysts?
A: This metric is a critical indicator of the overall health and performance of Rhode Island's labor market and economy, providing insights that inform policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The data is collected through household surveys conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: Unemployment levels are a key input for policymakers at the state and federal level when making decisions around monetary and fiscal policies aimed at promoting job creation and supporting economic growth.
Q: Are there update delays or limitations?
A: The unemployment data for Rhode Island is released on a monthly basis with a typical 1-2 month lag, and may be subject to revisions as more complete information becomes available.
Related Trends
Per Capita Personal Consumption Expenditures: Services: Financial Services and Insurance for Rhode Island
RIPCEPCFININS
Average Hourly Earnings of All Employees: Trade, Transportation, and Utilities in Rhode Island
SMU44000004000000003
All Employees: Manufacturing: Durable Goods: Miscellaneous Manufacturing in Rhode Island
SMU44000003133900001
All Employees: Manufacturing: Durable Goods in Rhode Island
SMU44000003100000001
Chain-Type Quantity Index for Real GDP: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in Rhode Island
RIFRBCIQGSP
Regional Price Parities: Services: Other: Metropolitan Portion for Rhode Island
RIMPRPPSERVEOTH
Citation
U.S. Federal Reserve, Unemployment Level for Rhode Island (UNEMPLOYRI), retrieved from FRED.