Newport County’s unemployment rate in October was 2.3%—ranked #5 highest out of 5 in the state.
Nationally, unemployment has leveled with pre-COVID rates, measuring between 3.5% and 4% for most of the past two years. Bureau of Labor Statistics data showed a 3.9% unemployment rate in October. Previously, unemployment skyrocketed to 14.7% at the height of the COVID-19 pandemic in April 2020, and those rates remained elevated through late 2021.
Though national unemployment has mostly normalized, local economies vary widely. Stacker used Bureau of Labor Statistics data to analyze unemployment in Newport County over time, and how it stacks up within Rhode Island and across the nation.
The unemployment rate in Newport County is 1.6 percentage points below the national level, and 0.4 percentage points below the state level. It ranks #5 among counties in Rhode Island—ranked first by the preliminary October 2023 unemployment rate, then breaking ties by the number of unemployed people. It trails behind Washington County, which also has an unemployment rate of 2.3%, and has the lowest unemployment in the state.
In real terms, it means an estimated 1,049 of Newport County’s approximately 45,453 working residents are out of a job at the moment. That’s 216 more than last month and 23 more than a year ago. Some economists fret another recession may be on the horizon, which would drive unemployment up with business closures and layoffs.
This story was produced using automation across 3,100 counties, boroughs, and parishes, based on writing and data reporting by Paxtyn Merten.