Lynchburg, VA – December 2023 Jobs Report – Steady Growth Amidst National Slowdown

, ,

Lynchburg’s job market maintained its positive momentum in December 2023, defying a slight national employment dip. The city added 500 jobs, pushing the unemployment rate down to 3.4%, the lowest in a decade. This report indicates continued resilience and adaptability in the Lynchburg economy, particularly in healthcare, professional services, and manufacturing.


  • Job growth: 500 jobs added, contributing to a 0.4% increase in non-farm employment.
  • Unemployment rate: Decreased to 3.4%, down from 3.5% in November and 4.7% a year ago.
  • Labor force participation: Remained steady at 62.1%.
  • Average weekly earnings: Increased by 0.4% compared to November, reaching $926.

What Industries and Occupations Grew:

  • Healthcare: Added 120 jobs, driven by expansion in home healthcare and medical offices.
  • Professional and business services: Grew by 75 jobs, boosted by engineering, legal, and accounting firms.
  • Manufacturing: Increased by 50 jobs, with gains in food processing and paper products.
  • Other notable growth: Educational services, transportation and warehousing, and leisure and hospitality all added jobs.

What Industries and Occupations Shrank:

  • Retail trade: Lost 50 jobs, primarily in department stores and clothing stores.
  • Construction: Shed 25 jobs, reflecting a seasonal slowdown in activity.
  • Information technology: Declined by 15 jobs, following several months of strong growth.

Compare to Same Month Last Year:

  • December 2023’s job growth was slightly slower than December 2022’s 700-job increase.
  • However, the unemployment rate has improved significantly, falling from 3.8% a year ago.

Compare to Previous Month:

  • Lynchburg added more jobs in December than in November (300).
  • The unemployment rate remained stable compared to November.

Future Outlook:

  • The Lynchburg economy is expected to continue its steady growth in 2024, although at a slightly slower pace.
  • Healthcare, professional services, and manufacturing are projected to remain key drivers of job creation.
  • Increased demand for skilled labor is anticipated, potentially leading to higher wages.

10 Growing Occupations:

  1. Registered nurses
  2. Physician assistants
  3. Software developers
  4. Truck drivers
  5. General and operations managers
  6. Accountants and auditors
  7. Physical therapists
  8. Customer service representatives
  9. Electrical and electronics technicians
  10. Construction laborers

10 Companies Hiring Now:

  1. Centra Lynchburg General Hospital
  2. Liberty University
  3. BWX Technologies
  4. GE Aviation
  5. Virginia Tech
  6. Genesco Inc.
  7. Bank of America
  8. Wells Fargo
  9. CVS Health
  10. Amazon