24-04-2025
R.I. added 800 jobs in the beginning of 2025, but the state economy is showing signs of ‘weakness,' a new briefing says
The number of employed state residents was down by 2,300 in the first quarter. Meanwhile, the labor force participation rate declined slightly to 64.1 percent, the data shows.
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And the state's unemployment rate ticked up to 4.7 percent marking 'the seventh straight quarter in which it has either increased or held steady,' according to RIPEC. The rate is also noticeably higher than the overall New England rate at 3.9 percent and the national rate at 4.1 percent.
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While there were some 'cautionary signs' late last year, the latest data provides 'stronger evidence of a weakening economy,' Michael DiBiase, president and CEO of RIPEC, said in a statement.
'It is encouraging that Rhode Island-based jobs continued to grow in Q1, and that GDP grew for the fourth straight quarter in Q4 2024,' DiBiase said. 'However, unemployment increases are no longer attributable to more people being in the labor market, and our unemployment rate has now exceeded both the New England and U.S. rates for five consecutive quarters.'
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The data also arrives at a trepidatious moment as investors, economists, and experts closely watch how the Trump Administration manages its
'While it would be an overstatement to attribute the weakening of Rhode Island's economy in Q1 solely to rising policy uncertainties—including unprecedented shifts in international trade and heightened volatility in both national and global markets—the evolving national policy landscape will continue to put pressure on the economies of both Rhode Island and the broader New England region,' Edinaldo Tebaldi, professor of economics and vice president of strategy at Bryant University, said in a statement.
Christopher Gavin can be reached at
