Boca Raton, FL – January 2024 Jobs Report – Sunshine State Starts Strong

, ,

January 2024 marked a positive start to the year for Boca Raton’s job market, defying seasonal norms and exceeding expectations. The report reflects a growing local economy with robust hiring activity across several sectors.

Highlights:

  • Strong job growth: Despite being typically a slowdown month, January saw significant job creation, exceeding initial estimates.
  • Broader industry gains: Employment growth wasn’t limited to specific sectors, indicating diversified economic health.
  • Wage increase: Average hourly earnings jumped compared to January 2023, reflecting a competitive job market.

Industries and Occupations on the Rise:

  • Professional and Business Services: This sector led the pack, adding jobs in areas like management, consulting, and finance.
  • Leisure and Hospitality: Fueled by tourism and local spending, restaurants, hotels, and entertainment venues saw notable hiring.
  • Healthcare: Continued demand for medical professionals drove job growth in hospitals, clinics, and related organizations.
  • Construction: Residential and commercial building projects fueled expansion in this industry.
  • Information Technology: Tech companies and startups contributed to job creation in software development, cybersecurity, and data analysis.

Industries and Occupations Facing Decline:

  • Retail: Brick-and-mortar stores continued to face challenges, resulting in some job losses.
  • Manufacturing: Some manufacturing sub-sectors experienced slight contraction, potentially due to supply chain disruptions.

Compared to Last Year:

  • Overall, January 2024 showed stronger job growth compared to January 2023, indicating a positive economic trajectory.
  • Specific industries like Professional and Business Services and Leisure and Hospitality saw even more pronounced growth year-over-year.

Compared to Previous Month:

  • While December 2023 ended with robust hiring, January’s job creation momentum further solidified the upward trend.
  • Some industries, like Construction and Information Technology, saw even faster hiring growth compared to December.

Future Outlook:

  • Experts predict continued economic growth for Boca Raton in 2024, with stable job creation across various sectors.
  • The growing tech industry, coupled with an aging population’s healthcare needs, are expected to be key drivers of future job opportunities.

10 Growing Occupations:

  1. Software Developer
  2. Registered Nurse
  3. Marketing Manager
  4. Financial Analyst
  5. Customer Service Representative
  6. Construction Manager
  7. Sales Representative
  8. Physician Assistant
  9. Data Analyst
  10. Accountant

10 Companies Hiring Now:

  1. FAU Tech Accelerator
  2. Brightline Trains
  3. Lord Cultural Centers
  4. Baptist Health South Florida
  5. The Cheesecake Factory
  6. Marriott International
  7. IBM
  8. Siemens
  9. AutoNation
  10. Charles Schwab

Sources: