Labor
Number of Workers in Family
The Providence, RI has an average of 1.6 workers per family. This market subsequently ranks 24th in the number of workers per family across the 167 STI Markets. It has a location quotient of 1.04 time the national average of 1.5.
Figure 31: Workers In Family
Labor Force
The Providence, RI ranks 41st in labor force participation among the 167 STI Markets with 65.2% of those 16 plus in the labor force. Of those in the Labor force 0.5% are in the Armed Forces a value 0.64 times the national average resulting in an Armed Forces employment ranking of 65th across STI Markets.
In terms of overall employment size, the market ranks 110th with employment of 884,367.
Unemployment Rate of 5.2%
With an Unemployment Rate of 5.2% the Providence, RI currently ranks 18th in Unemployment among the 167 STI Markets.
UER Inequality - Moderate
The Providence, RI can current be classified as having Moderate level of variation across its Census Tracts. This classification is based on the Gini Coefficient of the market which is currently 0.363. Low (0 to .3), Moderate (.3 to .4), High (.4 to .6), Extreme (.6 to 1). The Gini Coefficient is often used to classify inequality. Across all STI Markets the Providence, RI ranks 138th. The interquartile range of the markets Census Tracts, that is its 25th percentile and 75th percentile values, are 2.8% and 7.1%, respectively.
