Everett’s job market showed continued growth in December 2023, defying a slight slowdown nationally. The unemployment rate held steady at 3.5%, marking the city’s lowest December rate in recent history. However, job gains were modest compared to previous months.
Highlights:
- Unemployment rate: 3.5%, unchanged from November and the lowest December rate on record (Bureau of Labor Statistics).
- Job growth: 0.2% compared to November, below the national average of 0.5% (Bureau of Labor Statistics).
- Key growth sectors: Manufacturing, trade, transportation, and utilities (Bureau of Labor Statistics).
Industries and Occupations that Grew:
- Manufacturing: Added 90 jobs, driven by growth in aircraft manufacturing and computer and electronics production (Bureau of Labor Statistics).
- Trade, transportation, and utilities: Gained 45 jobs, with strength in retail trade and transportation (Bureau of Labor Statistics).
- Professional and business services: Increased by 30 jobs, bolstered by growth in administrative and support occupations (Bureau of Labor Statistics).
Industries and Occupations that Shrank:
- Construction: Lost 30 jobs, reflecting a seasonal decline in activity (Bureau of Labor Statistics).
- Leisure and hospitality: Shed 20 jobs, likely due to the end of the holiday season (Bureau of Labor Statistics).
Comparison to Same Month Last Year:
- The unemployment rate was down from 3.8% in December 2022 (Bureau of Labor Statistics).
- Total nonfarm employment increased by 2.9% year-over-year (Bureau of Labor Statistics).
Comparison to Previous Month:
- The unemployment rate remained unchanged from November 2023 (Bureau of Labor Statistics).
- Job growth slowed compared to November’s 0.4% increase (Bureau of Labor Statistics).
Future Outlook:
The future outlook for Everett’s job market is cautiously optimistic. While national economic headwinds may dampen hiring, the city’s strong manufacturing base and growing trade sector are expected to provide stability. Job growth is likely to moderate in the coming months, but significant job losses are not anticipated.
10 Growing Occupations:
- Registered Nurses
- Software Developers and Applications Developers
- Physical Therapists
- Truck Drivers
- Home Health Aides and Personal Care Aides
- Customer Service Representatives
- Sales Representatives
- Wind Turbine Service Technicians
- Construction Laborers
- Elementary School Teachers
10 Companies Hiring Now:
- Boeing
- Providence Health
- The Everett Clinic
- Snohomish County Public Utility District
- Walmart
- Amazon
- Starbucks
- Costco Wholesale
- Home Depot
- Lowe’s
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