February 19, 2024

Danbury, CT – January 2024 Jobs Report – Modest Growth Despite National Headwinds

The Danbury job market kicked off 2024 with a measured pace, experiencing slight job growth amidst national economic uncertainties. While the January report shows a slower pace compared to the previous months, it suggests a generally stable and potentially promising outlook for the year ahead.

Highlights:

Overall job growth: Danbury added 0.3% new jobs compared to December 2023, translating to roughly 75 new positions.
Resilient sectors: The Professional & Business Services (+0.8%) and Trade, Transportation & Utilities (+0.7%) sectors led the job gains, demonstrating their continued strength in the local economy.
Government stability: The Government sector added 0.5%, indicating consistent employment in public administration and education.

Industries and Occupations on the Rise:

Professional & Business Services: Management Analysts, Marketing Specialists, and Computer Systems Analysts experienced job growth, reflecting the expanding service sector in Danbury.

Industries and Occupations Facing Challenges:

Manufacturing: This sector witnessed a slight decline (-0.2%), primarily due to seasonal adjustments. Long-term prospects remain positive due to the presence of major manufacturing companies in the area.
Information: The Information sector saw a minor decrease (-0.1%), with occupations like Computer Programmers and Database Administrators experiencing slight reductions.
Leisure & Hospitality: This sector experienced a seasonal dip (-0.4%), likely due to the post-holiday period. However, the upcoming tourism season may bring a rebound.

Year-over-Year Comparison:

Compared to January 2023, the Danbury job market has grown by 1.0%, adding approximately 220 new jobs. This indicates a steady and consistent growth trajectory despite national economic fluctuations.

Month-over-Month Comparison:

While job growth slowed down slightly compared to December 2023, the overall trend remains positive. The January report suggests a stable and resilient job market in Danbury, particularly in sectors like professional services, healthcare, and logistics.

Future Outlook:

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

Healthcare: The aging population and growing demand for medical services will continue to drive job creation in this sector, particularly for nurses, therapists, and home healthcare workers.
Technology: The tech industry is expected to see continued growth, with opportunities in software development, cybersecurity, and data analytics.
Professional & Business Services: The demand for skilled professionals in management, marketing, and IT is expected to remain strong.

Top 10 Growing Occupations in Danbury, CT (January 2024):

Top 10 Companies Hiring Now in Danbury, CT (February 2024):

Sources: