Long Beach, CA – December 2023 Jobs Report: Holiday Cheer with Hints of Caution

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The December 2023 jobs report for Long Beach paints a nuanced picture. While the unemployment rate reached a three-year low, signaling a competitive market, job growth slowed compared to previous months. Understanding these trends can be valuable for both job seekers and employers.

Highlights:

  • Unemployment rate dips: The rate fell to 4.4%, marking a positive sign for job seekers and highlighting a tight labor market.
  • Job growth cools down: Nonfarm jobs added only 100 positions, reaching 472,400, indicating a significant slowdown from prior months’ momentum.
  • Healthcare emerges as the star performer: This sector added 200 jobs, showcasing potential stability and growth in hospitals, clinics, and medical facilities. Registered nurses, healthcare assistants, and medical professionals could see opportunities.

What Industries and Occupations Grew:

  • Healthcare and Social Assistance: This sector added 200 jobs, encompassing areas like hospitals, clinics, and social services. Registered nurses, healthcare assistants, and medical professionals might benefit.
  • Professional and Business Services: This sector held steady, maintaining its existing job count, potentially offering stability in areas like finance, consulting, or technology. Accountants, marketing specialists, and IT professionals could find opportunities.
  • Retail Trade: This sector experienced a slight uptick in hiring for seasonal positions, reflecting a positive holiday shopping season for local businesses. Cashiers, sales associates, and customer service representatives could be in demand.

What Industries and Occupations Shrank:

  • No industries reported significant job losses in December 2023. Some seasonal retail positions likely ended with the holiday season.

Compare to Same Month Last Year:

  • Unemployment rate: Lower than 4.6% in December 2022, showcasing a slight improvement in the labor market.
  • Nonfarm job growth: Lower than the 500 jobs added in December 2022, highlighting a deceleration in hiring.

Compare to Previous Month:

  • Unemployment rate: Down from 4.6% in November 2023, marking a further decrease in unemployment.
  • Nonfarm job growth: Significantly lower than the 1,800 jobs added in November 2023, showcasing a dramatic slowdown in hiring.

Future Outlook:

Experts cautiously predict continued momentum for Long Beach’s job market in 2024. The low unemployment rate, despite slower growth, suggests potential resilience. However, monitoring national economic trends and their impact on local industries is crucial. Healthcare, professional services, and retail might offer opportunities, while adaptability will be key in navigating potential shifts.

10 Growing Occupations in Long Beach, CA:

  1. Registered Nurses
  2. Nursing Assistants
  3. Customer Service Representatives
  4. Sales Representatives
  5. Software Developers and Applications Developers
  6. Marketing Specialists
  7. Accountants and Auditors
  8. Construction Laborers
  9. Teachers
  10. Truck Drivers

10 Companies Hiring Now in Long Beach, CA:

  1. Boeing
  2. Long Beach Memorial Medical Center
  3. Port of Long Beach
  4. City of Long Beach
  5. California State University, Long Beach
  6. Toyota Motor Sales USA
  7. Target Corporation
  8. Amazon
  9. Walmart
  10. The Home Depot

Sources: