Layton, UT – December 2023 Jobs Report – Mixed Signals Amidst Holiday Season

Layton’s December job market presented a mixed picture, with modest job gains offset by some sectoral losses. While the unemployment rate remained stable, the overall picture suggests a cautious approach to hiring during the holiday season.

Highlights:

• Nonfarm payroll employment: Increased by 100 jobs in December, bringing the total to 58,400, a 0.7% increase year-over-year.
• Unemployment rate: Held steady at 3.2%, matching the November level and remaining below the national average.
• Average hourly earnings: Increased slightly to $29.12, reflecting continued wage growth across some sectors.

What Industries and Occupations Grew:

• Professional and Business Services: Added 150 jobs, driven by hiring in healthcare, legal, and accounting fields.
• Education and Health Services: Gained 100 jobs, primarily in healthcare support occupations like nursing assistants and home health aides.

What Industries and Occupations Shrank:

• Trade, Transportation, and Utilities: Shed 150 jobs, concentrated in retail trade and leisure and hospitality sectors.
• Manufacturing: Remained flat, with no significant changes in employment levels.

Compare to Same Month Last Year:

• Layton’s job market growth lagged behind the national average, adding 0.7% compared to the nation’s 1.4% increase.
• The unemployment rate remained unchanged from December 2022.

Compare to Previous Month:

• Job growth slowed down from November’s increase of 200 jobs, indicating a potential pause in hiring activity.
• The unemployment rate remained unchanged from the previous month.

Future Outlook:

Layton’s economic outlook for 2024 remains uncertain. While continued investment in healthcare and professional services is expected to create job opportunities, factors like rising interest rates and potential economic slowdown could dampen hiring momentum.

10 Growing Occupations:

1. Registered Nurses
2. Software Developers and Programmers
3. Physician Assistants
4. General and Operations Managers
5. Accountants and Auditors
6. Retail Salespersons
7. Nursing Assistants
8. Truck Drivers
9. Customer Service Representatives
10. Construction Laborers

10 Companies Hiring Now:

1. Intermountain Healthcare
2. Hill Air Force Base
3. ATK Aerospace
4. Smith’s Food and Drug
5. Comcast
6. US Bank
7. Davis School District
8. Layton City
9. Mountain America Credit Union
10. Raytheon Technologies

Resources:

• Utah Department of Workforce Services
• Davis County Economic Development
• Bureau of Labor Statistics