Fall River’s December 2023 jobs report presented a contrasting picture, with a rise in unemployment alongside continued job growth in certain sectors. While the overall unemployment rate climbed to 5.5%, up from 4.1% in November, the city’s labor force added 186 jobs, marking the 10th consecutive month of positive job gains.
Highlights:
- Unemployment Rate Uptick: The 5.5% unemployment rate in December reflects a 1.4 percentage point increase from November and remains slightly above the national average of 4%.
- Job Growth Continues: Despite the unemployment rise, Fall River added 186 jobs in December, bringing the total number of employed residents to 39,831. This marks 10 straight months of job gains, adding 1,262 positions since March 2023.
- Sectoral Divergence: Job growth was concentrated in specific industries, while others experienced contraction. Notably, healthcare and social assistance added 140 jobs, followed by professional, scientific, and technical services (+30 jobs). Conversely, manufacturing (-50 jobs) and leisure and hospitality (-40 jobs) shed positions.
What Industries and Occupations Grew:
- Healthcare and Social Assistance: Led by nursing and personal care aides, home health aides, and medical assistants, this sector added 140 jobs in December.
- Professional, Scientific, and Technical Services: Positions in computer and mathematical occupations, along with management analysts and social scientists, contributed to the 30-job gain in this sector.
What Industries and Occupations Shrank:
- Manufacturing: The loss of 50 jobs in December impacted various positions, including production workers, assemblers, and inspectors.
- Leisure and Hospitality: Declines in food service occupations, particularly waiters and waitresses, contributed to the 40-job reduction in this sector.
Compare to Same Month Last Year:
- Compared to December 2022, Fall River’s unemployment rate remained unchanged at 5.5%. However, the labor force size has grown by 3.4% (1,339 additional employees) over the past year.
- Job growth in healthcare and social assistance (+370 jobs) and professional, scientific, and technical services (+140 jobs) has outpaced losses in other sectors since December 2022.
Compare to Previous Month:
- The unemployment rate climbed 1.4 percentage points from November 2023, marking the most significant monthly increase since April 2023.
- Job growth slowed down considerably in December compared to November, adding 186 jobs versus 326 positions gained the previous month.
Future Outlook:
The future job market in Fall River remains uncertain, influenced by national economic trends and local industry developments. The healthcare sector is expected to maintain its growth trajectory, while manufacturing might face potential fluctuations based on broader economic conditions.
10 Growing Occupations in Fall River (December 2023 compared to December 2022):
- Registered Nurses (+70)
- Nursing Assistants and Home Health Aides (+50)
- General and Operations Managers (+40)
- Personal Care Aides (+30)
- Software Developers and Programmers (+20)
- Truck Drivers (+20)
- Social Scientists and Related Workers (+20)
- Occupational Therapists and Physical Therapists (+10)
- Accountants and Auditors (+10)
- Teachers, Secondary School (+10)
10 Companies Hiring Now in Fall River (as of January 30, 2024):
- Charlton Memorial Hospital
- Saint Anne’s Hospital
- Leesona Corporation
- Davol Rubber Company
- BankFive
- Bristol County District Attorney’s Office
- City of Fall River
- Fall River Public Schools
- Amazon Fulfillment Center
- Price Rite Supermarket
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