Clifton, NJ – January 2024 Jobs Report – Cautious Growth Amidst National Uncertainties

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Clifton’s job market started 2024 with a cautious outlook, experiencing modest job growth despite concerns over rising minimum wages and national economic uncertainties. The January report suggests a slower pace compared to the previous year, but highlights potential areas of stability and future expansion.

Highlights:

  • Modest job growth: Clifton added 0.2% new jobs compared to December 2023, translating to roughly 40 positions.
  • Leisure & Hospitality remains steady: This sector (+0.3%) led the job gains, reflecting the ongoing importance of tourism and hospitality in Clifton’s economy.
  • Professional Services shows promise: Management, marketing, and IT occupations in this sector (+0.2%) saw job growth, suggesting continued demand for skilled professionals.

Industries and Occupations on the Rise:

  • Leisure & Hospitality: Food Preparation & Serving Related Workers, Lodging & Accommodation Workers, and Travel & Tourism Specialists experienced job gains, fueled by the approaching tourist season.
  • Professional & Business Services: Management Analysts, Marketing Specialists, and Computer Systems Analysts saw modest increases, indicating a need for skilled professionals in these areas.

Industries and Occupations Facing Challenges:

  • Retail Trade: This sector witnessed a slight decline (-0.1%), potentially due to seasonal adjustments and continued online shopping trends.
  • Financial Activities: The Financial Activities sector saw a minor decrease (-0.1%), primarily due to national trends and automation in certain areas.
  • Information: The Information sector experienced a slight decline (-0.1%), with occupations like Computer Programmers experiencing slight reductions.

Year-over-Year Comparison:

Compared to January 2023, the Clifton job market has grown by 0.4%, adding approximately 70 new jobs. This indicates a slower growth trajectory compared to the previous year, potentially influenced by national economic concerns.

Month-over-Month Comparison:

While job growth slowed down slightly compared to December 2023, the overall trend remains positive in key sectors like tourism and hospitality. The January report suggests a cautious outlook for the Clifton job market, with potential opportunities in professional services, healthcare, and tourism.

Future Outlook:

The Clifton job market is expected to see continued, albeit slow, growth in 2024, with key areas of expansion including:

  • Tourism & Hospitality: The upcoming tourist season and continued popularity of Clifton as a travel destination are expected to drive further job creation in this sector.
  • Healthcare: The aging population and increasing healthcare needs will continue to create opportunities in this sector, particularly for nurses and therapists.
  • Technology: Growing tech companies and initiatives could create opportunities in software development, cybersecurity, and data analytics.

Top 10 Growing Occupations in Clifton, NJ (January 2024):

  1. Registered Nurses
  2. Management Analysts
  3. Marketing Specialists
  4. Food Preparation
  5. Lodging 
  6. Travel 
  7. Computer Systems Analysts
  8. Customer Service Representatives
  9. Sales Representatives
  10. Personal Care Aides

Top 10 Companies Hiring Now in Clifton, NJ (February 2024):

  1. Hackensack Meridian Health Pascack Valley Medical Group
  2. City of Clifton
  3. UPS
  4. Quest Diagnostics
  5. Walmart
  6. The Home Depot
  7. Amazon
  8. Lowe’s
  9. FedEx
  10. Target

Sources: