Lawrence, MA – December 2023 Jobs Report – Positive Momentum Continues

, ,

Lawrence’s job market maintained its positive trajectory in December 2023, adding jobs for the fifteenth consecutive month. The city’s unemployment rate held steady at 4.5%, matching the statewide average.

Highlights:

  • Job gains: Lawrence added an estimated 250 jobs in December, contributing to a year-over-year increase of 2.5%. This surpassed the statewide job growth rate of 1.9%.
  • Healthcare leads the way: The healthcare sector was the primary driver of job growth, adding 120 positions, primarily in hospitals and ambulatory care settings.
  • Manufacturing rebounds: After a brief slowdown in November, the manufacturing sector added 80 jobs, indicating continued resilience in Lawrence’s industrial base.
  • Professional and business services see modest growth: Professional and business services added 50 jobs, driven by gains in legal and accounting services.

What Industries and Occupations Grew:

  • Healthcare: Registered nurses, nursing assistants, and medical technicians were among the occupations in high demand.
  • Manufacturing: Production workers, machine operators, and assemblers saw job gains, particularly in the plastics and machinery industries.
  • Professional and business services: Lawyers, accountants, and management consultants experienced increased hiring activity.

What Industries and Occupations Shrank:

  • Retail trade: The holiday season did not translate into significant job gains for the retail sector, which shed 30 positions, primarily in clothing and department stores.
  • Leisure and hospitality: Hotels and restaurants saw a minor decline of 20 jobs, likely due to seasonal adjustments.

Compare to Same Month Last Year:

  • Lawrence’s job growth in December 2023 outpaced the December 2022 rate by 0.8 percentage points, reflecting a strengthening local economy.

Compare to Previous Month:

  • Job growth in December (250) was slightly higher than in November (200), suggesting continued momentum in the labor market.

Future Outlook:

The Lawrence job market is expected to remain stable in the coming months, with continued growth in healthcare and manufacturing sectors. However, potential economic headwinds, such as rising interest rates and global trade tensions, could dampen hiring activity in other sectors.

10 Growing Occupations:

  1. Registered Nurses
  2. Nursing Assistants
  3. Home Health Aides
  4. General and Operations Managers
  5. Truck Drivers
  6. Customer Service Representatives
  7. Software Developers
  8. Accountants and Auditors
  9. Personal Care Aides
  10. Physical Therapist Assistants

10 Companies Hiring Now:

  1. Tufts Medicine Care at Home
  2. Staples
  3. Beth Israel Lahey Health Behavioral Services
  4. Lawrence Public Schools
  5. Phoenix Packaging Products
  6. Liberty Mutual Insurance
  7. Amazon
  8. FedEx
  9. UPS
  10. Wentworth Institute of Technology

Resources: