Overall unemployment rate moved up to 8.4% with the biggest shift in Business Services, which lost 3,800 roles, based on the most recently available information published in March 2021.
Total employment in the Providence-Warwick, RI-MA market declined by 5,682 jobs in January and the unemployment rate increased compared to the prior month by 80 bps to 8.4%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- Providence-Warwick, RI-MA unemployment rate is 159 bps above the national rate which is a negative sign.
- Unemployment in the market is 430 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in January versus prior month by 2.5% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -2.0%. Key sectors include:
- Education & Healthcare: 116,700; -1,500
- Transportation & Utilities: 98,100; -2,800
- Government: 72,800; -300
- Business Services: 68,300; -3,800
- Manufacturing: 47,600; -700
- Restaurants & Hotels: 46,300; -1,100
- Financial Services: 36,400; no change
- Construction, Mining: 23,800; -1,400
- Other Jobs: 23,000; +500
- IT & Development: 5,900; no change
Data is based on the most recent 12 months available, through January 2021 (Data published March 2021 and reports created on March 25, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.