While December can typically bring hiring slowdowns in many locations, Lakewood, Colorado maintained steady employment figures in the final month of 2023. This stability offers a positive outlook for job seekers heading into the new year.
Overview:
- Nonfarm payroll employment remained consistent at around 159,000 individuals, according to the Bureau of Labor Statistics (BLS).
- The unemployment rate held steady at 3.3%, slightly higher than the national average of 3.2%.
- Despite December’s typical seasonal hiring decrease, some sectors continued adding jobs, demonstrating the area’s economic resilience.
Highlights:
- Trade, Transportation, and Utilities saw the most significant growth, adding 333 jobs month-over-month.
- The Information sector remained solid, gaining 27 jobs from November.
- Healthcare and Social Assistance continued its steady expansion, adding 22 positions.
Industries and Occupations that Grew:
- Retail Trade added 190 jobs, indicating continued holiday season hiring.
- Transportation and Warehousing gained 102 positions, highlighting the growing importance of logistics in the region.
- Software Development, Computer Systems Design, and Management Support showed consistent growth, reflecting the area’s tech industry strength.
Industries and Occupations that Shrank:
- Mining, Logging, and Construction lost 7 jobs, likely due to seasonal fluctuations.
- Manufacturing shed 8 positions, continuing a slow decline seen throughout 2023.
- Leisure and Hospitality experienced a minor decrease of 9 jobs, which could be attributed to post-holiday season adjustments.
Comparison to Same Month Last Year:
- Overall employment in Lakewood increased by 0.8% compared to December 2022.
- The unemployment rate dropped 0.1 percentage points year-over-year.
- Trade, Transportation, and Utilities added significantly more jobs year-over-year, with an increase of 2.5%.
Comparison to Previous Month:
- Nonfarm payroll employment remained largely unchanged from November 2023.
- The unemployment rate also held steady month-over-month.
- Healthcare and Social Assistance saw the biggest monthly job gain, adding 22 positions.
Future Outlook:
- The Lakewood economy is projected to experience moderate growth in 2024, with job creation expected across various sectors.
- Healthcare, Technology, and Professional & Business Services are anticipated to be among the leading industries for job growth.
- The unemployment rate is forecast to remain low, potentially dipping below 3%.
10 Growing Occupations (Lakewood, CO – December 2023):
- Registered Nurses
- Software Developers and Applications Developers
- Retail Salespersons
- General and Operations Managers
- Customer Service Representatives
- Marketing Specialists
- Truck Drivers
- Home Health Aides and Personal Care Aides
- Physical Therapists
- Accountants and Auditors
10 Companies Hiring Now in Lakewood, CO (as of February 12, 2024):
- DaVita Kidney Care
- Jefferson County Public Schools
- St. Anthony Hospital
- King Soopers/City Market
- Xcel Energy
- Lockheed Martin
- Comcast
- US Bank
- DISH Network
- Centura Health
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