Overall unemployment rate moved up to 4.2% with the biggest shift in Restaurants & Hotels, which lost 400 roles, based on the most recently available information published in December 2022.
Total employment in the Norwich-New London-Westerly, CT-RI market declined by 1,336 jobs in October and the unemployment rate increased compared to the prior month by 10 bps to 4.2%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Norwich-New London-Westerly, CT-RI unemployment rate is 80 bps above the national rate which is a negative sign.
- Unemployment in the market is 130 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 8.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.1%. Key sectors include:
- Government: 25,000; +300
- Transportation & Utilities: 21,900; +200
- Education & Healthcare: 19,600; -300
- Manufacturing: 18,500; +100
- Restaurants & Hotels: 16,500; -400
- Business Services: 8,900; no change
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.