Overall unemployment rate moved up to 4.2% with the biggest shift in Education & Healthcare, which gained 3,000 roles, based on the most recently available information published in April 2023.
Total employment in the Providence-Warwick, RI-MA market declined by 3,723 jobs in February and the unemployment rate increased compared to the prior month by 30 bps to 4.2%. The national unemployment rate increased by 3 bps over the same time to 3.9%.
- Providence-Warwick, RI-MA unemployment rate is 31 bps above the national rate which is a negative sign.
- Unemployment in the market is 50 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 8.7% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.7% . Key sectors include:
- Education & Healthcare: 124,500; +3,000
- Transportation & Utilities: 102,600; -300
- Government: 75,900; +1,200
- Business Services: 73,100; -500
- Restaurants & Hotels: 61,300; +2,700
- Manufacturing: 50,300; -400
- Financial Services: 38,000; no change
- Construction, Mining: 26,300; -1,400
- Other Jobs: 25,900; -200
- IT & Development: 6,800; +100
Data is based on the most recent 12 months available, through February 2023 (Data published April 2023 and reports created on April 10, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.