The December 2023 jobs report for High Point, NC paints a mixed picture of the city’s labor market. While some positive indicators suggest continued growth, other data points hint at potential challenges ahead.
Overview:
- The unemployment rate remained steady at 3.2%, matching the November 2023 figure and representing near full employment. Source: Bureau of Labor Statistics: https://www.bls.gov/eag/eag.nc_greensboro_msa.htm
- Job growth slowed compared to previous months, with an estimated 200 new jobs added in December. This follows gains of 400 in November and 700 in October. Source: North Carolina Department of Commerce: <invalid URL removed>
Highlights:
- The Leisure and Hospitality industry saw the most significant job gains, adding an estimated 100 positions. This reflects the continued recovery of the tourism sector.
- The Trade, Transportation, and Utilities industry also experienced growth, adding 50 jobs. This aligns with national trends of increased e-commerce activity.
Industries and Occupations that Grew:
- Leisure and Hospitality
- Trade, Transportation, and Utilities
- Professional and Business Services (modest growth)
- Healthcare Support (modest growth)
Industries and Occupations that Shrank:
- Manufacturing (small decline)
- Construction (small decline)
Comparison to Same Month Last Year:
- The unemployment rate in December 2023 was lower than in December 2022 (3.7%).
- Job growth, however, was slower year-over-year. The High Point metropolitan area added an estimated 3,400 jobs in December 2022 compared to 200 in December 2023.
Comparison to Previous Month:
- The unemployment rate remained unchanged from November 2023.
- Job growth slowed significantly compared to November 2023, which saw an estimated 400 new positions added.
Future Outlook:
The future outlook for the High Point job market is uncertain. While the low unemployment rate indicates a tight labor market, the slowdown in job growth raises concerns about potential economic headwinds.
10 Growing Occupations:
- Personal Care Aides
- Home Health Aides
- Registered Nurses
- Customer Service Representatives
- Retail Salespersons
- Transportation Assistants
- Software Developers and Applications Developers
- Truck Drivers
- Nursing Assistants
- Chefs and Head Cooks
10 Companies Hiring Now:
- Thomas Built Buses
- Novant Health
- Furnitureland South
- Gildan
- FedEx Ground
- VF Corporation
- City of High Point
- High Point University
- Cone Health
- International Paper