For the first time in 15 years, Rhode Island has reached unemployment levels of 8.5 percent ? a very disconcerting 2 percent higher than the national rate, and up 5.1 percent from a year earlier. After 8 consecutive months of job losses, there are 48,800 Rhode Islanders looking for work. The state has been plagued by economic recession for almost a year, with job cuts in the manufacturing, banking, finance, and insurance industries leading the way. Small businesses are faring the worst, and continued problems could negatively impact the state?s budget. Rhode Island is already tackling a budget crisis, and multi-million dollar deficits are expected in the pending year too.
See "RI unemployment rate hit 8.5 percent in August; highest level of joblessness since 1993", Ray Henry, Chicago Tribune, September 18, 2008