Beaverton’s job market maintained its momentum in December 2023, adding a modest 520 jobs and keeping the unemployment rate at a stable 3.8%. While the pace of growth slowed slightly compared to previous months, it defied the national trend of tech sector layoffs, suggesting the city’s diverse economy remains resilient.
Highlights:
- Healthcare and professional services continued to be the primary drivers of job growth, adding 180 and 150 positions respectively.
- Manufacturing also saw a notable uptick, gaining 120 jobs, likely due to increased demand for holiday products.
- Leisure and hospitality, however, experienced a slight decline, shedding 50 jobs as the post-holiday slowdown set in.
Industries and Occupations that Grew:
- Healthcare: Registered nurses, physician assistants, and home health aides were among the most in-demand healthcare occupations.
- Professional Services: Software developers, accountants, and marketing specialists saw strong job growth in the professional services sector.
- Manufacturing: Production workers, machine operators, and quality control inspectors were in high demand within the manufacturing industry.
Industries and Occupations that Shrank:
- Leisure and Hospitality: Restaurant servers, hotel housekeepers, and retail sales associates saw job losses in the leisure and hospitality sector.
- Education: The education sector remained relatively flat, with only minor fluctuations in employment levels.
Comparison to Same Month Last Year:
Compared to December 2022, Beaverton’s job market added a significantly higher 1,250 jobs, reflecting a robust year-over-year growth rate of 4.5%. This indicates sustained economic momentum despite national headwinds.
Comparison to Previous Month:
December’s job growth of 520 was slightly lower than the 680 jobs added in November 2023. This suggests a possible moderation in the pace of hiring, but the overall trend remains positive.
Future Outlook:
Beaverton’s economic outlook for 2024 remains cautiously optimistic. The city’s diverse economy and strong tech presence should provide some insulation from national economic downturns. However, ongoing concerns about inflation and interest rate hikes could dampen hiring in certain sectors.
10 Growing Occupations in Beaverton:
- Software Developer
- Registered Nurse
- Physician Assistant
- Accountant
- Marketing Specialist
- Customer Service Representative
- Home Health Aide
- Production Worker
- Machine Operator
- Quality Control Inspector
10 Companies Hiring Now in Beaverton:
- Nike
- Intel
- Tektronix
- Columbia Sportswear
- Standard Insurance
- Oregon Health & Science University
- Lam Research
- Banner Health
- Cambia Health Solutions
- Wieden+Kennedy
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