Overall unemployment rate moved down to 5.2% with the biggest shift in Restaurants & Hotels, which gained 4,700 roles, based on the most recently available information published in June 2021.
Total employment in the Providence-Warwick, RI-MA market rose by 1,657 jobs in May and the unemployment rate decreased compared to the prior month by 20 bps to 5.2%. The national unemployment rate decreased by 25 bps over the same time to 5.5%.
- Providence-Warwick, RI-MA unemployment rate is 30 bps below the national rate which is a positive sign.
- Unemployment in the market is 930 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in May versus prior month by -1.4% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 1.5% . Key sectors include:
- Education & Healthcare: 119,400; -1,700
- Transportation & Utilities: 97,100; +800
- Government: 74,200; +500
- Business Services: 72,700; +1,300
- Restaurants & Hotels: 57,400; +4,700
- Manufacturing: 50,200; +1,300
- Financial Services: 37,100; +200
- Construction, Mining: 27,200; +1,300
- Other Jobs: 23,800; -100
- IT & Development: 5,900; -100
Data is based on the most recent 12 months available, through May 2021 (Data published June 2021 and reports created on June 30, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.