Lake Forest, CA – December 2023 Jobs Report – Holding Steady Amidst National Uncertainty

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The December 2023 jobs report for Lake Forest, CA, paints a picture of stability amidst national economic fluctuations. While job growth slowed compared to previous months, the city maintained a positive unemployment rate and saw expansion in key sectors like healthcare and professional services.

Highlights:

  • The unemployment rate held at 3.2%, unchanged from November 2023.
  • Job growth slowed to 0.4%, adding 128 new positions to the city’s economy.
  • Healthcare and professional services led the way in job creation, adding 42 and 37 jobs respectively.
  • Leisure and hospitality saw a slight decline, losing 15 jobs.

What Industries and Occupations Grew:

  • Healthcare: Hospitals, physician offices, and home healthcare agencies continued to add jobs, fueled by an aging population and increased demand for medical services.
  • Professional Services: Accounting, legal, and engineering firms expanded their teams, reflecting continued business activity in the city.
  • Construction: Despite national slowdowns, Lake Forest’s construction sector remained steady, adding 18 new positions.

What Industries and Occupations Shrank:

  • Leisure and Hospitality: Restaurants and hotels saw a small decline in jobs, likely due to seasonal factors and ongoing competition.
  • Retail: Brick-and-mortar stores continued to face challenges from online shopping, losing 12 jobs in December.

Compare to Same Month Last Year:

  • Lake Forest’s unemployment rate in December 2023 was lower than the 3.5% recorded in December 2022, indicating continued economic resilience.
  • Job growth, however, was slower compared to the 0.8% seen in December 2022, reflecting the national economic slowdown.

Compare to Previous Month:

  • The unemployment rate remained unchanged from November 2023.
  • Job growth slowed down from the 0.7% recorded in November 2023.

Future Outlook:

While national economic uncertainty persists, Lake Forest’s diversified economy and strategic location position it well for continued job growth in key sectors like healthcare, professional services, and technology. Ongoing infrastructure projects and investments in education and training are also expected to contribute to future job creation.

10 Growing Occupations in Lake Forest (December 2023):

  1. Registered Nurses
  2. Software Developers
  3. Physician Assistants
  4. Accountants and Auditors
  5. Customer Service Representatives
  6. Construction Laborers
  7. Marketing Specialists
  8. General Managers
  9. Teachers
  10. Human Resources Specialists

10 Companies Hiring Now in Lake Forest (as of January 29, 2024):

  1. Saddleback Valley Unified School District
  2. Mission Hospital Laguna Beach
  3. Edwards Lifesciences
  4. Fluor Corporation
  5. TaylorMade Golf
  6. Pacific Investment Management Company (PIMCO)
  7. Beckman Coulter
  8. FirstService Residential
  9. Marriott Irvine Spectrum
  10. Irvine Company

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