Erie’s job market continued its modest growth trajectory in January 2024, bucking the slight slowdown observed nationally. While the pace of expansion wasn’t as robust as seen in the latter half of 2023, key sectors like healthcare and manufacturing maintained stability, offering positive signals for the near future.
Highlights:
- Unemployment rate: Held steady at 5.2%, marginally lower than the national average of 5.3% (Bureau of Labor Statistics).
- Job growth: Added 240 new jobs, primarily concentrated in healthcare, education, and professional services.
- Wage growth: Average hourly earnings increased by 2.8% year-over-year, reaching $22.40 (Bureau of Labor Statistics).
What Industries and Occupations Grew:
- Healthcare: Added 80 jobs, driven by demand for nurses, aides, and medical technicians.
- Education: Grew by 55 jobs, fueled by hiring in public and private schools for teaching and support staff positions.
- Professional and business services: Expanded by 40 jobs, particularly in administrative and technical roles.
What Industries and Occupations Shrank:
- Leisure and hospitality: Lost 30 jobs, primarily in food service and accommodation sectors.
- Retail trade: Declined by 25 jobs, reflecting ongoing challenges in brick-and-mortar stores.
Compare to Same Month Last Year:
- Job growth was slightly slower than January 2023, which added 310 positions.
- Unemployment rate remained unchanged from a year ago.
- Wage growth accelerated from 2.3% year-over-year in January 2023.
Compare to Previous Month:
- Job growth edged down from December 2023‘s increase of 270 positions.
- Unemployment rate stayed the same.
- Wage growth remained stable compared to December 2023.
Future Outlook:
The Erie County Department of Labor projects continued moderate job growth throughout 2024, with healthcare, manufacturing, and logistics expected to lead the expansion. Potential headwinds like higher interest rates and inflation could dampen hiring activity in some sectors.
10 Growing Occupations:
- Registered Nurses
- Home Health Aides and Personal Care Aides
- Nursing Assistants
- Customer Service Representatives
- Truck Drivers
- Software Developers and Applications Developers
- Elementary and Middle School Teachers
- Marketing Specialists
- General Laborers and Construction Workers
- Janitors and Cleaners
10 Companies Hiring Now:
- Erie Insurance
- UPMC Hamot
- GE Transportation
- Erie Veterans Affairs Medical Center
- LECOM Health
- Erie School District
- Perry’s Ice Cream Company
- Wegmans
- Walmart
- The Home Depot
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