February 9, 2024

Hillsboro, OR – December 2023 Jobs Report – Steady Growth Amidst National Slowdown

The Hillsboro job market continued its upward trend in December 2023, adding jobs at a slightly slower pace than the national average. This report summarizes the latest data from the Bureau of Labor Statistics (BLS) and other relevant sources.

Highlights:

The unemployment rate remained low at 3.4%, holding steady since October 2023.
Nonfarm jobs increased by 0.1% from November to December, adding 19 jobs.
Year-over-year job growth stood at 1.3%, slightly below the national average of 1.7%.

What Industries and Occupations Grew:

Trade, transportation, and utilitiessaw the most significant growth, adding 280 jobs over the year.
Professional and business services added 170 jobs.
Leisure and hospitality showed modest growth, adding 40 jobs.
Occupations in healthcare support, transportation, and construction saw notable growth.

What Industries and Occupations Shrank:

Manufacturing shed 20 jobs in December, but overall employment remained stable year-over-year.
Construction lost 30 jobs in December, but the industry still added jobs compared to December 2022.
Some office and administrative support occupations declined slightly.

Compare to Same Month Last Year:

Hillsboro’s December 2023 job growth was slower than December 2022’s 0.4% increase.
However, the unemployment rate remained lower than December 2022’s 3.7%.

Compare to Previous Month:

Job growth slowed from November 2023’s 0.2% increase.
The unemployment rate remained unchanged from November 2023.

Future Outlook:

The future outlook for the Hillsboro job market is cautiously optimistic. While national economic headwinds may moderate job growth, the area’s strong tech sector and growing population are expected to continue driving demand for workers.

10 Growing Occupations:

10 Companies Hiring Now:

Cited Resources:

Bureau of Labor Statistics: Portland-Vancouver-Hillsboro, OR-WA Economy at a Glance

City of Hillsboro: Employment Opportunities