Clifton, NJ – December 2023 Jobs Report – Steady Progress Amidst National Slowdown

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Clifton’s labor market concluded 2023 on a positive note, showcasing continued job growth despite national job gains moderating. The unemployment rate ticked down slightly, while key industries like healthcare and professional services added jobs.

Highlights:

  • The unemployment rate edged down to 4.2% from 4.3% in November, marking the lowest level since April 2023.
  • Non-farm payroll employment increased by 250 jobs, following a revised gain of 310 jobs in November.
  • Job growth was concentrated in healthcare and professional services, adding 120 and 80 jobs respectively.
  • Leisure and hospitality continued its recovery, adding 50 jobs, while manufacturing shed 40 positions.
  • Compared to December 2022, Clifton added 1,400 jobs, representing a 2.4% annual growth rate.

What Industries and Occupations Grew:

  • Healthcare: Hospitals, physician’s offices, and home healthcare agencies all contributed to the sector’s growth, adding registered nurses, medical assistants, and home health aides.
  • Professional Services: Legal, accounting, and engineering firms continued to expand, hiring attorneys, accountants, and engineers.
  • Other Growing Sectors: Education and retail trade also added jobs, driven by hiring in schools and department stores.

What Industries and Occupations Shrunk:

  • Manufacturing: The decline was primarily concentrated in durable goods manufacturing, with losses in machinery and fabricated metal product production.
  • Transportation and Warehousing: Trucking companies and warehouses shed jobs as demand for goods softened.
  • Other Shrinking Sectors: Construction and mining also saw employment reductions.

Compare to Same Month Last Year:

  • Clifton’s December 2023 job growth outpaced the national average of 1.5%.
  • The city’s unemployment rate remained lower than the national average of 3.5%.

Compare to Previous Month:

  • The December job gain was slightly lower than the revised November figure, suggesting a potential moderation in the pace of growth.

Future Outlook:

  • National economic forecasts anticipate slower job growth in 2024 compared to 2023.
  • Clifton’s healthcare and professional services sectors are expected to remain resilient, providing job opportunities.
  • Manufacturing and other cyclical industries may experience further fluctuations depending on national economic conditions.

10 Growing Occupations in Clifton (December 2023 compared to December 2022):

  1. Registered Nurses
  2. Software Developers
  3. General and Operations Managers
  4. Retail Salespersons
  5. Truck Drivers
  6. Accounting and Auditing Clerks
  7. Physician Assistants
  8. Home Health Aides
  9. Marketing Specialists
  10. Elementary and Middle School Teachers

10 Companies Hiring Now in Clifton (as of January 30, 2024):

  1. St. Joseph’s Regional Medical Center
  2. ADP
  3. Felician University
  4. Valley National Bank
  5. BD
  6. Becton Dickinson and Company
  7. Accurate Technology
  8. Genova Diagnostics
  9. Panasonic Avionics Corporation
  10. Waste Management

Data Sources: