Investors, business executives, travelers and students benchmark Rhode Island against other states in the region and country when they consider where to spend their time and money.

They want to know how Rhode Island stacks up, how it compares with other areas in economic vitality.

Here are some recent rankings:

R.I. jobless rate now 5th in U.S. . . .

Rhode Island’s unemployment rate in February of 10.5 percent, with 59,700 residents out of work, topped New England by a full 2.5 percentage points. Among the other states, the rates were: Maine, 8 percent; Massachusetts, 7.8 percent; Connecticut, 7.4 percent; Vermont, 7 percent; and New Hampshire, the only state without a sales or personal income tax, 5.3 percent.

Nationwide, Rhode Island once ran neck and neck with Michigan for the country’s highest jobless rate. But Rhode Island’s February rate pushed the state down to fifth, behind Michigan, 12 percent; South Carolina, 11 percent; Oregon, 10.8 percent; and North Carolina, 10.7 percent.

The U.S. rate for March was 8.5 percent. The Rhode Island rate for March is due April 17, and economists are expecting it to climb higher as the recession lengthens.

. . . and new claims climbing slightly

New jobless claims in Rhode Island last week totaled 3,800, up 2.3 percent from the comparable period a year ago, according to a U.S. Department of Labor report. In contrast, claims in Massachusetts were 10,800, up 4.4 percent from a year ago, while Connecticut counted 6,500 claims, up 3.6 percent.

Overall, jobless claims in the United States swelled for the week ending March 28 to 669,000, the highest level since 1982. The number of people staying on benefit rolls soared to 5.73 million.

Providence area dips in Forbes poll

The Greater Providence area fell to 165 from 118 in the annual ranking of the nation’s best places for business and careers by Forbes.

The magazine ranked the 200 largest metropolitan areas in the United States by examining 11 criteria, including job growth, cost of living, income growth, migration trends and subprime mortgages as a percentage of total originations over a three-year period.

In individual categories, Greater Providence ranked 145 in cost of doing business, 186 in projected job growth and 118 in educational attainment.

Among other New England cities, Boston ranked 90th and Hartford came in at 108. The two best-rated New England areas were in New Hampshire, where Rockingham County in the southern part of the state ranked 53 and the Manchester area was 75.

The top rated metro area was Raleigh, N.C., based on past and projected job growth, low business costs and a highly educated work force. The area also benefited from Research Triangle Park, a science park that has attracted 170 companies that employ 42,000 people, Forbes said.

But budget gap improves a little

For the fiscal year that will end June 30, Rhode Island had a budget gap of $372 million, according to report as of Feb. 12 by the Council of State Governments. That represented 11.4 percent of the state’s total budget, the highest percentage in New England and the sixth highest in the country. By comparison, the gap in Massachusetts of $2.4 billion represented 8.4 percent of the total budget.

The rankings change significantly for the 2010 fiscal year that will end June 30, 2010.

Rhode Island’s projected budget deficit of $450 million is 13.7 percent of its total budget. That ranked Rhode Island 18th in the country. Massachusetts’ forecast deficit of $3.1 billion is 11 percent of the total budget. The survey showed all the states had a total estimated deficit of $93.5 billion, or 15.9 percent of total state spending.

Still paychecks failing to keep up

Personal income growth in Rhode Island grew 2.7 percent in 2008, slower than the national rate of 3.9 percent and weaker than the New England rate of 3.4 percent. In contrast, personal income in Massachusetts grew last year at a 4 percent clip compared with 2007, according to data from the U.S. Bureau of Economic Analysis.

Nationwide, the growth rate of 3.9 percent was the slowest since 2003 and down considerably from the 6 percent rate in 2007. All the states, except Alaska, shared in the slowdown. The best growth rates were in oil producing states such as Alaska, Wyoming, Texas and Oklahoma. The worst performers were Florida, Arizona, Michigan and Nevada.

But, hey, we’re no longer last …

The 2009 business climate rankings by the Tax Foundation, the conservative, anti-tax think tank in Washington, D.C., ranked Rhode Island 46 out of the 50 states, up from 49 last year and 50 the year before. The survey, which measures how well a state’s tax code encourages investment by maintaining a broad tax base and low rates, put Massachusetts at 32 and Connecticut at 37. New Hampshire ranked best in New England.

The Tax Foundation also analyzed Governor Carcieri’s proposal that among other provisions would phase out the 9-percent corporate income tax over four years, reduce the individual income tax’s highest marginal rate, and increase the estate tax exemption. The evaluation showed that if enacted for 2009, Rhode Island’s ranking for business tax climate would drop to 16th in the nation.

It’s something to think about, if Rhode Islanders worry that their state is falling further behind its competitors.

jkostrze@projo.com