February 22, 2024

Daly City, CA – January 2024 Jobs Report – Cautious Growth Amidst National Downturn

The January 2024 jobs report for Daly City paints a picture of moderate growth, defying national trends that show a weakening labor market. While the city added jobs overall, the pace of growth slowed compared to previous months, suggesting a cautious outlook for the near future.

Highlights:

Job growth of 0.8% in January 2024 compared to December 2023.
Unemployment rate remained steady at 4.5%, slightly lower than the national average of 5.0%.
Industries like healthcare and professional services continued to drive job creation.
Retail and leisure & hospitality sectors witnessed job losses.

What Industries and Occupations Grew:

Healthcare: Added 1.5% jobs, with positions in nursing, medical assistants, and therapists in high demand.
Professional and business services: Grew by 1.2%, with openings for administrative assistants, accountants, and marketing specialists.
Education and government: Experienced modest job growth (0.5% and 0.3% respectively), mainly in education support roles and public administration positions.

What Industries and Occupations Shrank:

Retail: Lost 1.8% jobs, primarily in sales and customer service positions.
Leisure & hospitality: Declined by 0.7%, with declines in food service and accommodation jobs.

Compare to Same Month Last Year:

Job growth in January 2024 was slower than January 2023, which saw an increase of 1.2%.
Unemployment rate remained almost unchanged year-over-year.

Compare to Previous Month:

Job growth slowed from 1.1% in December 2023 to 0.8% in January 2024.
Healthcare and professional services maintained their leading roles in job creation.

Future Outlook:

While Daly City is currently outperforming the national average, economic uncertainties and national slowdown raise concerns for the city’s future job market. Continued monitoring of key indicators and industry trends is crucial.

10 Growing Occupations:

10 Companies Hiring Now:

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