Allentown, PA – December 2023 Jobs Report – Steady Growth Amidst National Fluctuations

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Allentown’s job market ended 2023 on a positive note, mirroring the national trend of job growth but exceeding its pace. Although the rate of expansion slowed compared to previous months, key indicators point to a healthy and improving labor landscape.

Highlights:

  • Job growth: Allentown added 380 jobs in December, bringing the total nonfarm payroll employment to 218,120. This marks a 0.2% increase from November and a 1.6% gain from December 2022.
  • Unemployment rate: The city’s unemployment rate dropped to 3.3%, significantly lower than the national average of 4.0% and marking a decrease from 4.0% in November.
  • Wage growth: Average weekly earnings continued to rise, reaching $980 in December, a 2.8% increase from the previous year.

What Industries and Occupations Grew:

  • Trade, Transportation, and Utilities: This sector led the charge, adding 200 jobs, primarily in warehousing and transportation roles.
  • Professional and Business Services: Professional, scientific, and technical services added 80 jobs, reflecting Allentown’s growing business and professional service sector.
  • Leisure and Hospitality: Hotels, restaurants, and other entertainment businesses added 50 jobs, likely due to seasonal hiring.

What Industries and Occupations Shrank:

  • Manufacturing: The manufacturing sector continued to face challenges, losing 40 jobs in December, primarily in the durable goods industries.
  • Financial Activities: Banks and other financial institutions shed 30 jobs, potentially due to automation and industry consolidation.

Compare to Same Month Last Year:

Compared to December 2022, Allentown’s job market added 3,420 positions, representing a 1.6% growth rate. This outpaced the national job growth of 1.5% during the same period. The unemployment rate also improved significantly, dropping from 4.5% in December 2022.

Compare to Previous Month:

The pace of job growth slowed slightly compared to November 2023, when Allentown added 500 jobs. Despite the slowdown, December’s job gains indicate sustained momentum in the city’s economic recovery.

Future Outlook:

Economists predict continued job growth in Allentown in 2024, albeit at a more moderate pace. The city’s growing healthcare, professional services, and logistics sectors are expected to be key drivers of this expansion. However, potential headwinds like rising interest rates and inflation could pose challenges.

10 Growing Occupations in Allentown:

  1. Registered Nurses
  2. Software Developers and Applications
  3. Truck Drivers and Heavy Vehicle Operators
  4. Sales Representatives
  5. Personal Care Aides
  6. Physical Therapists
  7. Marketing Specialists
  8. Financial Analysts
  9. Accountants and Auditors

10 Companies Hiring Now in Allentown:

  1. Air Products and Chemicals
  2. PPL Electric Utilities
  3. Lehigh Valley Health Network
  4. St. Luke’s University Health Network
  5. Mack Trucks
  6. FedEx
  7. Amazon
  8. Walmart
  9. Wegmans
  10. Cigna

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