Business
R.I.’s jobless rate now tied for third in nation
01:00 AM EDT on Tuesday, June 23, 2009
We’re number three. Rhode Island’s unemployment rate of 12.1 percent for May puts the state in a tie for the third highest in the country. Highest is Michigan, at 14.1 percent, followed by Oregon at 12.4 percent, then Rhode Island and South Carolina, both at 12.1 percent. The national unemployment rate for May was 9.4 percent.
In April, Rhode Island had the fourth highest unemployment rate in the country, at 11.1 percent, trailing Michigan, Oregon, and South Carolina
Among the six New England states, Rhode Island’s unemployment rate tops the list by a wide margin. The next highest state is Maine, at 8.3 percent, followed by Massachusetts (8.2 percent), Connecticut (8), Vermont (7.3) and New Hampshire (6.5). In terms of national rank, Maine is 24th, Massachusetts is tied for 25th, Connecticut is 31st, Vermont is 35th, and New Hampshire is tied for 42nd.
Vermont’s unemployment rate stayed the same between April and May, while all the other New England states experienced increases in unemployment.
Edward Mazze, distinguished university professor of business administration at the University of Rhode Island, said in an interview that Rhode Island shouldn’t be worrying about competing with neighboring states such as Massachusetts and Connecticut. In a world economy, he said, our competition comes from place such as Alabama — or China.
Leonard Lardaro, professor of economics at the University of Rhode Island, said Rhode Island is developing an unfortunate reputation as an economically depressed, high-unemployment state. “This does irreparable harm to our image. It’s become a stereotype for us, fair or not, and we’re living up to it,” he said. Unemployment ratesin New England states STATE RATE U.S. RANK Rhode Island 12.1 % 3 (tied) Maine 8.3 % 24 Massachusetts 8.2 % 25 (tied) Connecticut 8.0% 31 Vermont 7.3% 35 New Hampshire 6.5 % 42 (tied) Source: U.S. Bureau of Labor Statistics
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