Rhode Island BIPOC Small Business Ecosystem Assessment

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APPENDIX

Industry & Occupation Overview The following table shows a summary of all jobs in Rhode Island, by industry sector and by occupation. Jobs by industry are categorized by 2-digit NAICS code62; number of jobs in 2016, 2021, and 2026; the average yearly earnings of each category; and the industry’s Location Quotient. Jobs by occupation are categorized by Standard Occupational Classification (SOC) system, which is a federal system used to classify workers into occupational categories; number of jobs in 2016, 2021, and 2026; and the median annual earnings of each category.

Location Quotient (LQ) measures an industry’s concentration an area compared to the rest of the United States. A Location Quotient above 1 denotes a higher concentration of an industry in a geographic area compared to the rest of the United States, while a Location Quotient below 1 denotes a lower relative density. This figure is used to show industry clustering and identify industries that may be particularly prominent.

Top Industries & Occupations in Rhode Island In Rhode Island, Health Care and Social Assistance (NAICS 62) and Government (NAICS 90) represent the two industries with the largest number of jobs, at 81,000 and 70,000 respectively. Note that the Government industry includes local and state government jobs in the county, but also spans positions at local, state and federally owned educational and health care institutions, as well as military jobs. Industries with the top Location Quotients include Education Services (2.38), Management of Companies and Enterprises (1.71). and Finance and Insurance (1.30). From an occupation perspective, categories with the greatest number of jobs include 65,560 jobs in Office and Administrative Support Occupations (SOC 43-0000), 46,500 jobs in Sales and Related Occupations (SOC 41-0000), and 39,500 jobs in Food Preparation and Serving Related Occupations (35-0000). Together these three occupation categories make up 30% of the Rhode Island workforce. While the Rhode Island economy has shown a decline in jobs in the last five years, job growth is expected in the future. The number of jobs shrunk between 2016 and 2021, for a decrease of 21,000 jobs. From 2021 to 2026 there is an anticipated increase in jobs by 1%, adding about 5,500 jobs.

Industries Where Minorities Work White populations make up the majority of every industry; however, there are industries where minorities have a strong showing. These include: Administrative and Support and Waste Management and Remediation Services (NAICS 56), Transportation and Warehousing (NAICS 48), Accommodation and Food Services (NAICS 72), Manufacturing (NAICS 31), and Health Care and Social Assistance (NAICS 62). It is important to recognize that different racial and ethnic groups represent different proportions of the workforce within any given industry sector. Specifically: •

Hispanic or Latinos are most likely to work in Administrative and Support and Waste Management and Remediation Services and Manufacturing.

Black or African Americans are most likely to work in Administrative and Support and Waste Management and Remediation Services and Health Care and Social Assistance.

62 Employment

figures in the following tables represent jobs, not workers, since 1 individual may hold multiple jobs. Additionally, employment figures include both full and part-time jobs, meaning job counts are not adjusted to FTE.

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