Lakewood, CA – December 2023 Jobs Report – Holding Steady Amidst Holiday Season

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Lakewood’s December 2023 jobs market held its ground amidst the holiday season, showcasing resilience and potential for continued growth in the new year. While not experiencing significant surges, the city maintained a steady pace of job creation, offering promising signs for job seekers and employers alike.

Overview:

  • The unemployment rate remained unchanged from November 2023 at 4.2%, reflecting stability in the local workforce.
  • Job growth was modest, with an estimated 120 new positions added to the economy.
  • Healthcare, professional services, and retail sectors remained the primary drivers of job creation.

Highlights:

  • The healthcare industry added the most jobs, driven by increased demand for skilled professionals like nurses and medical assistants.
  • Professional services saw moderate growth, particularly in areas like accounting, marketing, and legal services.
  • Retail experienced a slight uptick in hiring for seasonal positions, indicating a positive holiday shopping season for local businesses.

Industries and Occupations on the Rise:

  • Healthcare: Registered nurses, nurse practitioners, and medical assistants were among the most in-demand positions.
  • Professional services: Accountants, marketing specialists, and legal assistants saw increased job openings.
  • Retail: Cashiers, sales associates, and customer service representatives were in high demand for the holiday season.

Industries and Occupations on the Decline:

  • Construction: The number of construction jobs remained stagnant, likely due to seasonal factors.
  • Manufacturing: The manufacturing sector experienced a slight decline in employment, potentially reflecting broader economic trends.
  • Leisure and hospitality: Some seasonal hospitality positions ended with the holiday season, leading to a minor decrease in employment.

Comparison to Same Month Last Year:

  • Lakewood’s December 2023 unemployment rate was lower than the 4.5% recorded in December 2022, indicating improvement in the overall labor market.
  • Job growth, however, was slightly slower compared to December 2022, which saw an addition of 150 new positions.

Comparison to Previous Month:

  • December 2023 saw a slight dip in job growth compared to November 2023, which added 140 new positions.
  • The unemployment rate remained unchanged from November 2023, suggesting stability in the workforce.

Future Outlook:

  • The near-term outlook for Lakewood’s job market is positive, with anticipated growth in healthcare, professional services, and retail sectors.
  • Continued infrastructure investments and potential expansion in logistics and e-commerce could further boost job creation in the city.
  • However, potential economic uncertainties in the broader national landscape remain a factor to monitor.

10 Growing Occupations:

  1. Registered Nurse
  2. Nurse Practitioner
  3. Medical Assistant
  4. Accountant
  5. Marketing Specialist
  6. Legal Assistant
  7. Cashier
  8. Sales Associate
  9. Customer Service Representative
  10. Software Developer

10 Companies Hiring Now:

  1. MemorialCare Long Beach Medical Center
  2. Molina Healthcare
  3. Deloitte Consulting LLP
  4. PwC
  5. Amazon
  6. FedEx
  7. Target
  8. Walmart
  9. Home Depot
  10. Lowe’s

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