Manchester, NH – January 2024 Jobs Report – Steady Hiring Meets Growing Labor Force

, ,

Manchester’s January 2024 job market exhibited stability with steady hiring activity amidst a growing labor force. While the number of job openings remained consistent, the influx of new job seekers led to a slight increase in the unemployment rate. Despite this, the overall outlook remains positive, reflecting the robust economic performance of New Hampshire.

Highlights:

  • Steady Hiring: The number of job openings remained stable compared to December 2023.
  • Growing Labor Force: The number of job seekers increased, leading to a slight rise in the unemployment rate.
  • Broad-Based Growth: Job gains were observed across various industries, indicating a diversified economy.
  • No Major Declines: No significant industries or occupations reported substantial job losses.

What Industries and Occupations Grew:

  • Professional and Business Services: This sector continued its upward trend, with new positions in management, technology, and finance.
  • Healthcare: Hospitals, clinics, and other healthcare providers saw expansion, creating opportunities for doctors, nurses, and other medical professionals.
  • Retail: Modest job gains were registered in the retail sector, suggesting continued consumer confidence.
  • Manufacturing: The industry experienced moderate growth, particularly in durable goods production.

What Industries and Occupations Shrank:

  • No significant declines were reported.

Compare to Same Month Last Year:

  • Year-over-year job growth: Manchester added jobs compared to January 2023, representing a positive increase.
  • National comparison: The city’s job growth outpaced the national average.

Compare to Previous Month:

  • Month-over-month growth: Job gains in January were slightly lower than December 2023, suggesting a possible stabilization after several months of strong increases.

Future Outlook:

Given the current trends and national forecasts, the Manchester job market is expected to remain healthy in 2024. However, rising interest rates and inflation could pose risks to economic growth, impacting hiring in some sectors.

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers and Applications
  3. Marketing Specialists
  4. Physicians and Surgeons
  5. Physician Assistants
  6. Wind Turbine Service Technicians
  7. Home Health Aides and Personal Care Aides
  8. Solar Photovoltaic Installers
  9. Cybersecurity Analysts
  10. Physical Therapist Assistants and Aides

10 Companies Hiring Now:

  1. Dartmouth-Hitchcock Medical Center
  2. Dyn (Manchester)
  3. BAE Systems
  4. Merchants Auto
  5. Fidelity Investments
  6. St. Mary’s Bank
  7. Brady Corporation
  8. Granite State College
  9. New Hampshire Department of Education
  10. City of Manchester

Resources: