Overall unemployment rate moved up to 3.9% with the biggest shift in Government, which gained 1,100 roles, based on the most recently available information published in September 2022.
Total employment in the Providence-Warwick, RI-MA market declined by 2,522 jobs in August and the unemployment rate increased compared to the prior month by 60 bps to 3.9%. The national unemployment rate stayed flat over the same time period at 3.8%.
- Providence-Warwick, RI-MA unemployment rate is 11 bps above the national rate which is a negative sign.
- Unemployment in the market is 210 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in August versus prior month by 5.6% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.4% . Key sectors include:
- Education & Healthcare: 121,500; -800
- Transportation & Utilities: 101,500; +700
- Business Services: 77,900; +200
- Restaurants & Hotels: 76,400; no change
- Government: 71,300; +1,100
- Manufacturing: 50,700; +300
- Financial Services: 38,000; +100
- Construction, Mining: 30,400; +900
- Other Jobs: 27,000; no change
- IT & Development: 6,800; +100
Data is based on the most recent 12 months available, through August 2022 (Data published September 2022 and reports created on September 28, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.