December 2023 presented a mixed picture for Huntington Beach’s job market. While the unemployment rate remained low and job growth held steady, some sectors experienced contraction, suggesting cautious optimism for the year ahead.
Highlights:
- Low unemployment rate: At 3.8%, the unemployment rate remained stable, indicating a tight labor market with strong demand for workers.
- Modest job growth: The nonfarm job count added 10 positions compared to November, showcasing a consistent but slower pace of job creation.
- Professional services and healthcare lead the way: These sectors added 5 jobs each, potentially reflecting areas of growth beyond tourism and retail.
What Industries and Occupations Grew:
- Professional and Business Services: This sector gained 5 jobs, encompassing areas like consulting, finance, and technology.
- Healthcare and Social Assistance: This industry also added 5 jobs, potentially reflecting expansion in hospitals, clinics, and other healthcare providers.
What Industries and Occupations Shrank:
- Retail Trade: This sector lost 10 jobs, potentially due to ongoing challenges in brick-and-mortar retail or post-holiday adjustments.
- Leisure and Hospitality: This industry shed 5 jobs, likely reflecting seasonal fluctuations in tourism and hospitality.
- Construction: 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 20 jobs added in December 2022, showcasing a slower pace of job creation.
Compare to Previous Month:
- Unemployment rate: Remained unchanged compared to November 2023, indicating a stable labor market.
- Nonfarm job growth: Decreased from the 15 jobs added in November 2023, reflecting a slight downward trend.
Future Outlook:
Experts predict cautious optimism for Huntington Beach’s job market in 2024. The low unemployment rate and consistent job growth suggest a resilient market, but potential headwinds like national economic concerns and inflation could create uncertainty. Professional services, healthcare, and other sectors may offer opportunities, while broader factors could impact the overall outlook.
10 Growing Occupations in Huntington Beach, CA:
- Registered Nurses
- Software Developers and Applications Developers
- Customer Service Representatives
- Sales Representatives
- Marketing Specialists
- Accounting and Bookkeeping Clerks
- Construction Laborers
- Truck Drivers
- Teachers
- Chefs and Head Cooks
10 Companies Hiring Now in Huntington Beach, CA:
- Boeing
- Blizzard Entertainment
- Hoag Memorial Hospital Presbyterian
- Pacific Life
- Experian
- City of Huntington Beach
- Walmart
- The Home Depot
- Lowe’s
- Marriott International
Sources:
- California Employment Development Department – Los Angeles-Long Beach-Glendale MSA
- Indeed Hiring in Huntington Beach, CA
- Glassdoor Jobs in Huntington Beach, CA