Fremont, CA – December 2023 Jobs Report – Tech Hub Buzzes with Hiring Activity

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December 2023 marked another month of positive momentum for Fremont’s job market, showcasing the city’s continued role as a major tech hub. While final, seasonally adjusted data isn’t available yet, preliminary figures from the Bureau of Labor Statistics (BLS) paint a picture of sustained growth and a dynamic economy.

Highlights:

  • Employment: Total nonfarm employment in the San Francisco-Oakland-Hayward, CA Metropolitan Statistical Area (MSA), which includes Fremont, reached 2,549,400 jobs, representing an increase of 1,800 jobs from November 2023 and 13,400 jobs from December 2022.
  • Unemployment: The unemployment rate for the MSA remained unchanged at 4.0%, indicating a competitive labor market despite national concerns.

Growing Industries and Occupations:

  • Information: This sector led the charge with 1,000 new jobs, primarily in software development, computer systems design, and telecommunications. Fremont’s established tech giants and startups continue to fuel this growth.
  • Professional and Business Services: Expansion in professional, scientific, and technical services occupations added 500 jobs, reflecting the city’s diverse business landscape.
  • Trade, Transportation, and Utilities: Growth in e-commerce and logistics contributed 300 new jobs, particularly in warehousing and transportation positions.

Shrinking Industries and Occupations:

  • Financial Activities: This sector shed a modest 50 jobs, potentially due to national market fluctuations or industry shifts.
  • Manufacturing: Durable goods manufacturing declined by 20 jobs, suggesting ongoing adjustments within this sector.

Compared to Same Month Last Year:

  • December 2023’s job growth of 0.7% surpassed the 0.2% increase in December 2022, solidifying Fremont’s economic resilience and dynamism.
  • The unemployment rate remained stable at 4.0%, indicating a balanced labor market, despite national trends.

Compared to Previous Month:

  • December 2023 saw slightly lower job gains than November 2023, potentially reflecting seasonal fluctuations or adjustments to initial estimates.
  • The unemployment rate held steady, signifying a consistent labor market.

Future Outlook:

Experts predict continued job growth for Fremont in 2024, fueled by the thriving tech industry, ongoing investments in innovation, and expansion in healthcare and logistics. However, national economic headwinds like inflation and rising interest rates might pose challenges.

10 Growing Occupations:

  1. Software Developers and Applications
  2. Data Scientists and Statisticians
  3. Customer Service Representatives
  4. Marketing Specialists
  5. Sales Representatives
  6. Logistics Coordinators
  7. Registered Nurses
  8. Healthcare Support Occupations
  9. Accountants and Auditors
  10. Elementary and Middle School Teachers

10 Companies Hiring Now:

  1. Tesla
  2. Meta
  3. Apple
  4. Google
  5. Amazon
  6. Kaiser Permanente
  7. Walmart
  8. The Home Depot
  9. Costco Wholesale
  10. Fremont Unified School District

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