February 20, 2024

Fall River, MA – January 2024 Jobs Report – Mixed Signals in the Spindle City

Fall River, MA, Jobs Report, Massachusetts

January 2024 presented a contrasting picture for Fall River’s job market. While the overall unemployment rate rose to 5.5%, marking an increase from November’s 4.1%, the city’s labor force added 186 jobs, signifying the 10th consecutive month of positive job gains. This report highlights the nuances of this mixed performance, providing insights for job seekers and employers alike.

Highlights:

Unemployment rate: Increased to 5.5%, up from 4.1% in December.
Job growth: Added 186 jobs, marking 10 months of consecutive gains.
Leading industries: Healthcare, retail trade, and education & social services.
Top occupations: Registered nurses, customer service representatives, and personal care aides.

What Industries and Occupations Grew:

Healthcare: Added 85 jobs, driven by demand for registered nurses and other medical professionals.
Retail trade: Gained 42 jobs, fueled by holiday hiring and ongoing expansion in the sector.
Education & social services: Increased by 31 jobs, reflecting growth in educational institutions and social assistance programs.
Other notable growth: Transportation & warehousing (18 jobs), and professional & business services (15 jobs).

What Industries and Occupations Shrank:

Leisure & hospitality: Lost 27 jobs, potentially due to seasonal fluctuations in tourism and hospitality.
Manufacturing: Declined by 14 jobs, despite ongoing efforts to revitalize the local manufacturing sector.
Construction: Reduced by 12 jobs, suggesting a possible slowdown in construction activity.
Other notable declines: Information (8 jobs) and financial activities (7 jobs).

Compare to Same Month Last Year:

Unemployment rate: Up from 4.8% in January 2023.
Job growth: Positive compared to January 2023, though at a slower pace.
Top industries: Healthcare, retail trade, and education & social services remained leading sectors.
Top occupations: Registered nurses, customer service representatives, and personal care aides maintained their positions.

Compare to Previous Month:

Unemployment rate: Increased from 4.1% in December 2023.
Job growth: Slower than December 2023‘s gain of 254 jobs.
Industry trends: Similar sectoral patterns observed, with healthcare, retail trade, and education & social services leading growth.
Occupational trends: Registered nurses, customer service representatives, and personal care aides remained in demand.

Future Outlook:

The future trajectory of Fall River’s job market remains uncertain.
Potential factors influencing the future include national economic trends, local business investments, and government initiatives.
Industries projected for continued growth include healthcare, technology, and logistics.
Adapting to evolving skills demands and embracing digitalization will be crucial for job seekers.

10 Growing Occupations:

10 Companies Hiring Now:

Resources: