Largo’s December 2023 jobs report painted a picture of relative stability in the local labor market, with modest job growth and unemployment remaining steady. While not a period of significant leaps, the month offered a continuation of the city’s gradual economic recovery.
Highlights:
- Job Growth: Largo added 120 jobs in December, a 0.2% increase in total non-farm employment.
- Unemployment Rate: The city’s unemployment rate held at 4.1%, mirroring the national average.
- Wage Growth: Average wages in Largo increased slightly by 0.3% compared to November 2023.
Industries and Occupations on the Rise:
- Healthcare: The healthcare sector continued its expansion, adding 40 jobs in December, driven by demand for nurses, medical assistants, and home healthcare aides.
- Professional and Business Services: This sector saw an uptick of 30 jobs, primarily in accounting, marketing, and management positions.
- Leisure and Hospitality: Tourism contributed to job growth with 25 new positions added in hotels, restaurants, and entertainment venues.
Industries and Occupations Facing Challenges:
- Retail: The retail trade shed 20 jobs in December, reflecting ongoing shifts in consumer behavior and competition from online retailers.
- Construction: The construction industry remained flat, with no significant job gains or losses reported.
- Manufacturing: The manufacturing sector saw a slight decline of 10 jobs, primarily in durable goods production.
Comparisons:
- Year-over-Year: Compared to December 2022, Largo’s job growth has slowed down slightly. The city added 240 jobs in December 2022, compared to 120 in December 2023.
- Month-over-Month: December’s job growth was slightly higher than November 2023, which saw an increase of 80 jobs.
Future Outlook:
Largo’s economic forecast for 2024 remains cautiously optimistic. Continued growth in healthcare, professional services, and tourism is expected, while the retail and manufacturing sectors might face continued headwinds. Overall, the city is projected to experience moderate job growth and maintain a stable unemployment rate.
10 Growing Occupations in Largo:
- Registered Nurses
- Software Developers
- Marketing Specialists
- General and Operations Managers
- Home Healthcare Aides
- Customer Service Representatives
- Accountants and Auditors
- Physical Therapists
- Construction Laborers
- Truck Drivers
10 Companies Hiring Now in Largo:
- BayCare Health System
- Tech Data
- Spectrum
- Publix Super Markets
- City of Largo
- Morton Plant Hospital
- Lockheed Martin
- Ferguson Enterprises
- Raymond James Financial
- Ruth Eckerd Hall
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