Overall unemployment rate moved up to 3.4% with the biggest shift in Restaurants & Hotels, which lost 2,300 roles, based on the most recently available information published in January 2022.
Total employment in the Providence-Warwick, RI-MA market declined by 4,102 jobs in November and the unemployment rate increased compared to the prior month by 10 bps to 3.4%. The national unemployment rate decreased by 4 bps over the same time to 3.4%.
- Providence-Warwick, RI-MA unemployment rate is 4 bps above the national rate which is a negative sign.
- Unemployment in the market is 70 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in November versus prior month by 6.5% 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: 127,300; +700
- Transportation & Utilities: 104,200; +2,100
- Business Services: 79,400; -800
- Government: 77,500; +500
- Restaurants & Hotels: 62,000; -2,300
- Manufacturing: 50,800; +500
- Financial Services: 38,200; -100
- Construction, Mining: 31,200; +1,200
- Other Jobs: 26,300; -100
Data is based on the most recent 12 months available, through November 2022 (Data published January 2022 and reports created on January 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.