Overall unemployment rate moved down to 3.3% with the biggest shift in Restaurants & Hotels, which lost 6,600 roles, based on the most recently available information published in November 2022.
Total employment in the Providence-Warwick, RI-MA market rose by 2,794 jobs in September and the unemployment rate decreased compared to the prior month by 70 bps to 3.3%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- Providence-Warwick, RI-MA unemployment rate is 2 bps below the national rate which is a positive sign.
- Unemployment in the market is 160 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in September versus prior month by 8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.2% . Key sectors include:
- Education & Healthcare: 124,900; +3,500
- Transportation & Utilities: 102,300; +800
- Business Services: 78,800; +800
- Government: 75,900; +4,900
- Restaurants & Hotels: 69,100; -6,600
- Manufacturing: 50,800; +100
- Financial Services: 38,100; +100
- Construction, Mining: 29,700; -700
- Other Jobs: 25,500; -1,400
- IT & Development: 6,600; -100
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.