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):
- Registered Nurses
- Management Analysts
- Marketing Specialists
- Food Preparation
- Lodging
- Travel
- Computer Systems Analysts
- Customer Service Representatives
- Sales Representatives
- Personal Care Aides
Top 10 Companies Hiring Now in Clifton, NJ (February 2024):
- Hackensack Meridian Health Pascack Valley Medical Group
- City of Clifton
- UPS
- Quest Diagnostics
- Walmart
- The Home Depot
- Amazon
- Lowe’s
- FedEx
- Target
Sources:
- New Jersey Department of Labor and Workforce Development
- U.S. Bureau of Labor Statistics