Finance jobs in Rhode Island climb

Posted on December 10, 2016

New labor statistics posit that finance jobs in Rhode Island have risen.

Estimated nonfarm payroll in Rhode Island totaled 492,400 in October, reflecting a gain of 1,700 jobs from the revised September estimate of 490,700. October snaps two consecutive months of job declines which totaled 800 jobs. Since January 2016, a total of 3,900 jobs have been added to the economy. In comparison, the number of nonfarm jobs was up 3,000 during this same period in 2015. Overall, jobs are up 6,600 from October 2015.

Employment in the Professional & Business Services sector rose by 900 in October, fueled by job gains reported in the professional & technical services and administrative & waste services subsectors. Over the year, the number of jobs within the Professional & Business Services sector is up 2,800.

After reporting a loss of 900 jobs each in September, both the Educational Services and Health Care & Social Assistance sectors responded by each adding 700 jobs in October. Employment in Educational Services is up 400 from a year ago, while employment in Health Care & Social Assistance is up 300 from October 2015.

The Arts, Entertainment & Recreation, Construction, Financial Activities and Other Services sectors each added 100 jobs in October. Among these sectors, employment in the Arts, Entertainment & Recreation (+200), Other Services (+200) and Construction (+100) sectors are up over the year, while employment in Financial Activities is down by 400 during this period.

Employment in the Manufacturing sector continued to trend down in October, shedding 500 jobs from September. The October job loss marks three consecutive months of job losses totaling 1,100 jobs. The number of manufacturing jobs is down 300 from a year ago.