December 2023 offered a complex picture for Glendale’s job market. While the unemployment rate dropped and job growth remained positive, specific sectoral trends painted a nuanced picture, suggesting cautious optimism for the year ahead.
Highlights:
- Lower unemployment rate: At 3.9%, the unemployment rate dipped slightly from November, indicating a tighter labor market with more demand for workers.
- Stable job growth: The nonfarm job count added 20 positions compared to November, showcasing a consistent but modest pace of job creation.
- Diverging sectoral performance: Healthcare and education saw growth, while retail and leisure & hospitality experienced job losses.
What Industries and Occupations Grew:
- Healthcare and Social Assistance: This sector added 10 jobs, potentially reflecting expansion in hospitals, clinics, and other healthcare providers.
- Education Services: This industry gained 5 jobs, encompassing areas like public and private schools.
What Industries and Occupations Shrank:
- Retail Trade: This sector lost 15 jobs, potentially due to ongoing challenges in brick-and-mortar retail or post-holiday adjustments.
- Leisure and Hospitality: This industry shed 10 jobs, likely reflecting seasonal fluctuations in tourism and hospitality.
- Administrative and Support Services: This sector also lost 5 jobs, which could be attributed to various factors within the broader industry.
Compare to Same Month Last Year:
- Unemployment rate: Down from 4.2% in December 2022, signifying a minor improvement in the labor market.
- Nonfarm job growth: Lower than the 35 jobs added in December 2022, showcasing a slower pace of job creation.
Compare to Previous Month:
- Unemployment rate: Decreased from 4.0% in November 2023, reflecting a positive trend.
- Nonfarm job growth: Remained unchanged compared to November 2023, indicating a stable rate of job creation.
Future Outlook:
Economists predict a cautiously optimistic outlook for Glendale’s job market in 2024. The lower unemployment rate and job growth suggest a resilient market, but potential headwinds like national economic concerns and inflation could create uncertainty. Healthcare, education, and other sectors may offer opportunities, while broader factors could impact the overall outlook.
10 Growing Occupations in Glendale, CA:
- Registered Nurses
- Software Developers and Applications Developers
- Customer Service Representatives
- Sales Representatives
- Marketing Specialists
- Teachers
- Accountants and Auditors
- Construction Laborers
- Nursing Assistants
- Truck Drivers
10 Companies Hiring Now in Glendale, CA:
- Adventist Health
- Glendale Unified School District
- The Walt Disney Company
- Kaiser Permanente
- Amazon
- City of Glendale
- Walmart
- The Home Depot
- Lowe’s
- Hilton
Sources:
- California Employment Development Department – Los Angeles-Long Beach-Glendale MSA
- Indeed Hiring in Glendale, CA
- Glassdoor Jobs in Glendale, CA