This section shows the Newport Rhode Island economy using the most recent economic analysis from the 2022 Census Bureau. Starting with Figure 1 which shows the median earnings per worker, Newport depicts it has a Median earnings of $62,233 which is in the middle range of other places in the greater region. The city with the highest median earnings per worker in the area is Narragansett Pier CDP which shows a median earnings of $74,018 (18.9% larger). Comparing median earnings per worker to the United States average of $53,269, Newport is 16.8% larger. Also, versus the state of Rhode Island, median earnings per worker of $56,841, Newport is 9.5% larger.
In Figure 2 a more complete view of income is shown which aggregates income from all members in the household and it has a Median household income of $77,092 which is the second smallest in terms of median household income of all the other places in the metropolitan area. The city with the highest median household income in the area is Kingston CDP which shows a median income of $116,250 (50.8% larger). Comparing median household income to the United States average of $69,021, Newport is 11.7% larger. Also, measured against the state of Rhode Island, median household income of $74,489, Newport is only about 3.5% larger. Dividing median annual worker earnings by the average number of hours worked in a year in Figure 4 shows that it has a Avg Hrly Earnings of $31.09 which is in the mid point range of other places in the metro area. The city with the highest average hourly earnings in the area is Kingston CDP which shows an average hourly earnings of $42.79 (37.7% larger). Comparing average hourly earnings to the United States average of $26.40, Newport is 17.7% larger. Also, measured against the state of Rhode Island, average hourly earnings of $28.92, Newport is 7.5% larger.
Figure 5 examines the number of self employed people in the Newport metro area based on the number of people who reported any self employment income. Newport shows it has a Self Employed of 12.1% which is the largest of all places in the greater Newport region.
Figure 6 breaks down the source of income and Newport has the largest proportion of income from wages at 5.5% of the total and is ranked #1. Second, it has the largest proportion of self employment income at 22.7% of the total and is ranked #1.
The next chart (Figure 7) shows the percentage of households that had retirement income over the last 12 months and it has a With Retirement Income of 22.8% which is the second smallest as measured by households with retirement income of all the other places in the greater region. The city with the highest households with retirement income in the area is Tiverton CDP which shows a households with retirement income of 30.5% (33.8% larger).
The percentage of full-time workers are compared to the number of part-time workers in Figure 8. Newport shows full time employees approximately 2.8 times bigger as the part time employees.
Similar to the last chart is Figure 9 which shows the number of people who are self employed but in more detailed industry categories such as manufacturing, retail sales, residential real estate, commercial real estate, health care, exports/imports, and advanced industries, etc. Newport depicts it has the hightest entrepreneurs of 36% for the self employed in professional, scientific, management, administrative services group.
Figure 10 shows the cost of living and other consumer spending categories for a variety of cost components from the Bureau of Labor Statistics. Newport shows it has the hightest cost of 164.8 for the cost of housing group.
Newport Rhode Island Poverty Charts
In Figure 11 the percentage of people earning less than the poverty level is shown and compared across the group of places. Newport depicts it has a Percent of Population In Poverty of 15.5% which is the second most percent of people earning less than the poverty level of all the places in the greater Newport region. The city with the highest percent of people earning less than the poverty level in the area is Narragansett Pier CDP which shows a percent of people in poverty of 18.3% (17.8% larger).
Additionally, Figure 12 looks at the percentage of people who receive some form of public assistance including general assistance, temporary assistance or food stamps (i.e. SNAP.) Newport depicts it has a Public Assistance Percent of 14.5% which is the most of all places in the greater Newport region.
Newport Rhode Island Labor Force Charts
The table in Figure 13, shows Newport employment data in terms of job categories and salary data.
The next two charts look at monthly trended employment related performance using data estimated by economists at the Bureau of Labor Statistics (BLS). The BLS tracks unemployment statistics for a large number of areas throughout the country on a month to month basis. However, not every location in the U.S. is tracked by the BLS so the chart will only show the closest location available (which may be the same location.) Figure 14 shows the monthly unemployment rate for the area as well as a comparison to the overall national economy measure for the United States. Note that in March to April 2022, the Covid 19 recession occurred and affects this metric. The monthly unemployment rate depicts that from February 2017 to before the Coronavirus Pandemic it went from 5.2% to 2.8% in December 2019. This represents a decrease in the monthly unemployment rate of 46.2%. Since that time, the monthly unemployment rate has gone to 2.8%. This represents an increase in the monthly unemployment rate of very little.
Newport Rhode Island Jobs Charts
In the jobs section of economic activity charts in Figure 15 shows the average annual earnings for very high level job industry categories for full time and year round employed.
Figure 16 shows the average median earnings for different categories of jobs.
Newport Rhode Island Work Commute Charts
The following set of charts detail a variety of metrics that have economic impact, economic grow factors and economic development metrics in the Newport community and has an impact on other factors such as economic growth, population growth, economic recovery, job growth, etc.. Figure 17 shows a high level view of how the population commutes to work (including the percent of people who work from home.) Newport has the largest proportion of people who drive a car or motorcycle to work at 3% of the total and is ranked #1. Second, it has the largest proportion of people who bicycle or walk to work at 17% of the total and is ranked #1. Figure 18 shows a more detailed view of how the population commutes to work for (for example to downtown Newport or elsewhere.) Newport has the percentage of people who drove alone the second smallest in terms of people who drove alone of all the other places in the surrounding region at 57% of the total. Second, it has the largest proportion of people who take the bus at 2% of the total and is ranked #1. Third, it has the largest proportion of people who take a Subway or elevated rail at 0% of the total and is ranked #1. Also, it has the largest proportion of people who take the Long-distance train or commuter rail at 0% of the total and is ranked #1. In addition, it has the largest proportion of people who bike at 1% of the total and is ranked #1. Furthermore, it has the largest proportion of people who took a taxicab, motorcycle or other at 3% of the total and is ranked #1. Next it has the largest proportion of people who work from home at 17% of the total and is ranked #1.
Figure 19 is provided for comparison purposes to the previous chart. It shows how people get to work overall on average in the United States.
The average commute time is shown in Figure 21. Newport depicts it has a Avg Commute Time of 19 which is less than most other places in the area.
Cities marked with an asterisk ("*") should resemble a city or town but do not have their own government (i.e. Mayor, City Council, etc.) These places should be recognizable by the local community but their boundaries have no legal status. Technically these include both Census Designated Places (CDP) and Census County Divisions (CCD) which are defined by the Census Bureau along with local authorities. (For more information, see:
Census Designated Place or "CDP")
and Census County Division "CCD".)
For comparison purposes, the US national average and the state average value are provided. Additionally, the "Combined Statistical Area" or CSA is shown that is closest to the city, county, or zip code shown. A CSA is a large grouping of adjacent metropolitan areas that identified by the Census Bureau based on social and economic ties. (See: Combined Statistical Area)
Data sources - Mouse over icon in upper right corner of each chart for information.