Longmont, CO – January 2024 Jobs Report – Job Growth Continues at Steady Pace

, ,

The Longmont job market saw continued expansion in January 2024, building upon the positive momentum witnessed throughout 2023. While growth wasn’t as robust as previous months, key industries like manufacturing and healthcare added new positions, indicating a diversified and resilient market.

Highlights:

  • Total Nonfarm Jobs Added: 350 (source: Colorado Department of Labor and Employment)
  • Unemployment Rate: 3.2% (source: Bureau of Labor Statistics)
  • Job Growth Rate: 2.0% year-over-year (source: Colorado Department of Labor and Employment)

What Industries and Occupations Grew:

  • Manufacturing: Added 120 jobs, driven by demand for aerospace and medical devices. (source: Colorado Department of Labor and Employment)
  • Healthcare: Added 80 jobs, with growth in nursing and medical assistant positions. (source: Colorado Department of Labor and Employment)
  • Professional and Business Services: Added 50 jobs, including roles in engineering and finance. (source: Colorado Department of Labor and Employment)

What Industries and Occupations Shrank:

  • Retail Trade: Lost 20 jobs, mainly in clothing and department stores. (source: Colorado Department of Labor and Employment)
  • Accommodation and Food Services: Lost 10 jobs, with declines in restaurants and hotels. (source: Colorado Department of Labor and Employment)

Compare to Same Month Last Year:

  • Job growth in January 2024 was slightly slower than January 2023, which saw an increase of 420 jobs. (source: Colorado Department of Labor and Employment)
  • However, the unemployment rate remains lower than January 2023 (3.5%) and near record lows.

Compare to Previous Month:

  • December 2023 had seen a stronger surge in job creation with 580 new positions added. (source: Colorado Department of Labor and Employment)
  • This suggests a slight moderation in growth, potentially due to seasonal factors.

Future Outlook:

  • Economists predict continued job growth in Longmont throughout 2024, fueled by expanding manufacturing and healthcare sectors. (source: University of Colorado Boulder Leeds School of Business)
  • However, national economic concerns and potential interest rate hikes could pose challenges. 

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers and Applications Developers
  3. Home Health and Personal Care Aides
  4. Wind Turbine Service Technicians
  5. Physician Assistants
  6. Sales Representatives
  7. Truck Drivers
  8. Customer Service Representatives
  9. Logistics Coordinators
  10. Marketing Specialists

10 Companies Hiring Now:

  1. Ball Corporation
  2. Abbott Laboratories
  3. McKee Foods
  4. Nextgen Healthcare
  5. OptumServe
  6. Saint Anthony Hospital
  7. Agilent Technologies
  8. Stanley Black & Decker
  9. The Home Depot
  10. Xcel Energy

Resources: