Overall unemployment rate moved down to 3.9% with the biggest shift in Transportation & Utilities, which lost 1,700 roles, based on the most recently available information published in May 2023.
Total employment in the Providence-Warwick, RI-MA market declined by 1,872 jobs in March and the unemployment rate decreased compared to the prior month by 40 bps to 3.9%. The national unemployment rate decreased by 27 bps over the same time to 3.6%.
- Providence-Warwick, RI-MA unemployment rate is 28 bps above the national rate which is a negative sign.
- Unemployment in the market is 30 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in March versus prior month by 8.6% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.3% . Key sectors include:
- Education & Healthcare: 125,400; +200
- Transportation & Utilities: 101,100; -1,700
- Government: 77,500; +1,600
- Business Services: 73,600; +200
- Restaurants & Hotels: 62,200; +1,100
- Manufacturing: 50,100; -500
- Financial Services: 38,000; no change
- Construction, Mining: 27,300; +1,000
- Other Jobs: 26,000; no change
- IT & Development: 6,800; -100
Data is based on the most recent 12 months available, through March 2023 (Data published May 2023 and reports created on May 9,2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.