Overall unemployment rate moved down to 4.7% with the biggest shift in Education & Healthcare, which gained 3,500 roles, based on the most recently available information published in April 2022.
Total employment in the Providence-Warwick, RI-MA market rose by 6,018 jobs in February and the unemployment rate decreased compared to the prior month by 20 bps to 4.7%. The national unemployment rate decreased by 28 bps over the same time to 4.1%.
- Providence-Warwick, RI-MA unemployment rate is 56 bps above the national rate which is a negative sign.
- Unemployment in the market is 320 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in February versus prior month by 4.3% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.9% . Key sectors include:
- Education & Healthcare: 123,500; +3,500
- Transportation & Utilities: 101,400; -700
- Government: 75,200; +500
- Business Services: 73,600; -400
- Restaurants & Hotels: 58,700; +1,400
- Manufacturing: 49,700; +800
- Financial Services: 37,000; -300
- Other Jobs: 25,300; -100
- Construction, Mining: 24,000; +600
- IT & Development: 6,700; -100
Data is based on the most recent 12 months available, through February 2022 (Data published April 2022 and reports created on April 6, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.