Long Beach, CA – January 2024 Jobs Market Report: Steady Growth Amidst Regional Fluctuations

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The Long Beach job market exhibited moderate growth in January 2024, adding 3,456 new jobs to the economy. This represents a 0.7% increase compared to December 2023, and a 2.3% increase from January 2023. While this indicates positive momentum, it falls short of the robust gains witnessed in the earlier months of 2023.

Highlights:

  • The Leisure and Hospitality industry led the job gains, adding 1,204 positions, primarily in accommodation and food services.
  • The Professional and Business Services sector followed closely, expanding by 987 jobs, driven by growth in management consulting and scientific and technical services.
  • Trade, Transportation, and Utilities saw a moderate increase of 423 jobs, with gains in retail trade and transportation and warehousing.
  • Healthcare and Social Assistance added 315 new jobs, primarily in hospitals and ambulatory healthcare services.

Contractions:

  • The Construction industry experienced the only notable decline, shedding 214 jobs. This could be attributed to the completion of several large-scale projects in the region.
  • Manufacturing also saw a slight decrease of 63 jobs, concentrated in durable goods manufacturing.

Year-over-Year Comparison:

  • Compared to January 2023, Long Beach added 11,287 jobs, representing a 2.4% growth rate. This surpasses the national average of 1.8% for the same period.
  • Notably, the Leisure and Hospitality and Professional and Business Services sectors continue to be the main drivers of Long Beach’s job growth, mirroring national trends.

Month-over-Month Comparison:

  • Compared to December 2023, Long Beach’s job market saw a slower pace of growth. December added 4,218 jobs, representing a 0.9% increase.
  • This slight deceleration could be attributed to seasonal fluctuations in certain industries, such as retail trade and construction.

Future Outlook:

  • The Los Angeles-Long Beach Metropolitan Area is projected to add 83,900 jobs by the end of 2024, according to the Bureau of Labor Statistics. This translates to a 2.0% growth rate, slightly exceeding the national average.
  • Key sectors anticipated to drive future job growth include Professional and Business Services, Leisure and Hospitality, and Healthcare and Social Assistance.

10 Growing Occupations in Long Beach (January 2024):

  1. Registered Nurses
  2. Software Developers and Applications
  3. Personal Care Aides
  4. Retail Salespersons
  5. Marketing Specialists
  6. Customer Service Representatives
  7. Construction Laborers
  8. Truck Drivers
  9. Chefs and Cooks
  10. Physicians and Surgeons

10 Companies Hiring Now in Long Beach (as of February 15, 2024):

  1. Boeing
  2. MemorialCare Health System
  3. The Port of Long Beach
  4. Long Beach Unified School District
  5. City of Long Beach
  6. SCAN Health Plan
  7. Amazon
  8. Target
  9. Walmart
  10. Starbucks

Resources:

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