Providence Ranked 108th Best City for Jobs, Says New Study

GoLocalProv Business Team

Providence Ranked 108th Best City for Jobs, Says New Study

Providence ranked 108th best city for jobs
Looking for a new job in Providence to start off 2019? 

Providence is ranked as the 108th out of 182 ranked cities when it comes to finding a job, according to a new study completed by WalletHub.

In contrast, Boston ranks 9th best in the United States.  All is not lost in Rhode Island, as Warwick ranks 47 in America.

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This study during a period of record employment in Rhode Island, but during a period of job count fluxation in RI.

In November, Rhode Island lost 900 jobs and in December added 2,200 jobs. Massachusetts added 5,500 jobs in the month.

Last week, in an exclusive report GoLocal unveiled that one of Governor Gina Raimondo's highly hyped new companies -- Agoda which had promised to hire 200 in Rhode Island and the company would help to generate over 300 jobs.

“According to the U.S. Bureau of Labor Statistics’ most recent jobs report, the national unemployment rate has fallen to an eighteen-year low of 3.7 percent while hiring is up. College graduates, especially, will see a strong boost in their job prospects. According to the National Association of Colleges and Employers, employers plan to hire 16.6 percent more members from the Class of 2019 than from the previous graduating cohort,” said WalletHub.

Providence’s Rankings

  • 108th Best - Job Market
  • 83rd Best - Socio-economics

 

The Rankings

Providence is ranked behind St. Louis, Missouri and Oakland, California, who rank 106th and 107th respectively.

Providence is ranked ahead of Fontana, California and Glendale, California, who rank 109th and 110th respectively.

Scottsdale, Arizona is ranked as the best city to find a job, while Fayetteville, North Carolina is ranked as the worst city for jobs.

See the Rankings in the map below

Source: WalletHub

The Method

In order to determine the best job markets in the U.S., WalletHub compared 182 cities — including the 150 most populated U.S. cities, plus at least two of the most populated cities in each state — across two key dimensions, “Job Market” and “Socio-economics.”

WalletHub then evaluated the two dimensions using 30 relevant metrics.

Lastly, they determined each city’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample.

Job Market – Total Points: 80

  • Job Opportunities: Double Weight (~6.53 Points)
  • Employment Growth: Double Weight (~6.53 Points)
  • Monthly Average Starting Salary: Full Weight (~3.27 Points)
  • Unemployment Rate: Double Weight (~6.53 Points)
  • Underemployment Rate: Full Weight (~3.27 Points)
  • Industry Variety: Full Weight (~3.27 Points)
  • Employment Outlook: Double Weight (~6.53 Points)
  • Automation Risk: Full Weight (~3.27 Points)
  • Job Security: Full Weight (~3.27 Points)
  • Job Satisfaction: Full Weight (~3.27 Points)
  • Share of Engaged Workers*: Full Weight (~3.27 Points)
  • Retirement Access & Participation: Full Weight (~3.27 Points)
  • Access to Employee Benefits: Full Weight (~3.27 Points)
  • Presence of Work-Share Programs*: Full Weight (~3.27 Points)
  • Full-Time Employment: Full Weight (~3.27 Points)
  • Access to Internships: Full Weight (~3.27 Points)
  • 4+ Star Job Opportunities per Total People in Labor Force: Full Weight (~3.27 Points)
  • Apprentice-Trainee Jobs as Share of Total Jobs Posted on Glassdoor.com: Half Weight (~1.63 Points)
  • Share of Workers in Poverty: Double Weight (~6.53 Points)
  • Disability-Friendliness of Employers: Full Weight (~3.27 Points)

 

Socio-economics – Total Points: 20

  • Median Annual Income: Full Weight (~2.00 Points)
  • Average Work & Commute Time: Full Weight (~2.00 Points)
  • Transit Accessibility of Workplace: Full Weight (~2.00 Points)
  • Transit Score: Full Weight (~2.00 Points)
  • Housing Affordability: Full Weight (~2.00 Points)
  • Annual Transportation Costs: Full Weight (~2.00 Points)
  • Safety: Full Weight (~2.00 Points)
  • Family-Friendliness: Full Weight (~2.00 Points)
  • Dating-Friendliness: Full Weight (~2.00 Points)
  • Recreation-Friendliness: Full Weight (~2.00 Points)

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