Overall unemployment rate moved up to 3.2% with the biggest shift in Government, which lost 3,000 roles, based on the most recently available information published in August 2022.
Total employment in the Providence-Warwick, RI-MA market declined by 1,820 jobs in July and the unemployment rate increased compared to the prior month by 20 bps to 3.2%. The national unemployment rate decreased by 5 bps over the same time to 3.8%.
- Providence-Warwick, RI-MA unemployment rate is 58 bps below the national rate which is a positive 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 July versus prior month by 6.9% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.4%. Key sectors include:
- Education & Healthcare: 122,400; +300
- Transportation & Utilities: 100,800; -2,600
- Business Services: 78,200; +1,600
- Restaurants & Hotels: 76,500; +1,300
- Government: 70,200; -3,000
- Manufacturing: 50,400; -300
- Financial Services: 37,500; -200
- Construction, Mining: 29,300; no change
- Other Jobs: 27,000; +100
- IT & Development: 6,800; +100
Data is based on the most recent 12 months available, through July 2022 (Data published August 2022 and reports created on September 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.