Lowell, MA – December 2023 Jobs Report – Steady Growth Persists

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While the official January 2024 jobs report for Lowell, MA is not yet available, the December 2023 report provides valuable insights into the city’s job market performance. Here’s a summary:

  • Job growth: The Lowell job market continued its positive trend in December, adding an estimated 1,300 jobs. This represents a 0.7% increase over November 2023 and a 2.6% increase compared to December 2022.
  • Unemployment rate: The unemployment rate remained steady at 3.2%, indicating a tight labor market with more job openings than available workers.

Highlights:

  • Manufacturing and healthcare lead the way: These two sectors saw the most significant job gains, reflecting the city’s strengths in these areas.
  • Professional and business services also showed growth: This sector includes a variety of occupations, such as accounting, finance, and management, indicating a diversified economy.

Specific Industries and Occupations:

  • Growth: Manufacturing (durable and nondurable goods), healthcare and social assistance, professional and business services, leisure and hospitality.
  • Shrinkage: No major industries reported job losses.

Comparison to December 2022:

  • Overall job growth: 2.6%
  • Unemployment rate: Down from 3.4%

Comparison to November 2023:

  • Overall job growth: 0.7%
  • Unemployment rate: No change

Future Outlook:

The future outlook for the Lowell job market appears positive. The continued job growth and low unemployment rate suggest a healthy economy. However, it’s important to note that the January report may reveal different trends.

10 Growing Occupations (based on December 2023 data):

  1. Registered Nurses
  2. Home Health Aides and Personal Care Aides
  3. Software Developers and Applications Developers
  4. Retail Salespersons
  5. Customer Service Representatives
  6. Truck Drivers and Heavy Vehicle Drivers
  7. Janitors and Cleaners
  8. Chefs and Cooks
  9. Physical Therapist Aides and Assistants
  10. Elementary and Middle School Teachers

10 Companies Hiring Now (as of February 25, 2024):

  1. UMass Lowell
  2. Lowell General Hospital
  3. Trinity Financial Inc.
  4. MKS Instruments
  5. The Lowell Sun
  6. National Grid
  7. CACI International Inc.
  8. City of Lowell
  9. Saint Gobain
  10. Enterprise Holdings Inc.

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