The Medford job market saw minimal change in December 2023, following a period of modest fluctuations throughout the year. While the national economy grappled with slight job losses, Medford held its ground, offering a glimmer of stability for local job seekers.
Highlights:
- The unemployment rate remained unchanged at 4.2%, mirroring the national average.
- Total non-farm employment dipped slightly by 0.2%, losing approximately 180 jobs.
- Healthcare and education sectors continued to be major job drivers, adding positions throughout the month.
- Leisure and hospitality saw a minor decline, mirroring national trends in the wake of the holiday season slowdown.
What Industries and Occupations Grew:
- Healthcare: Added 40 jobs, primarily in nursing and administrative roles.
- Education: Gained 20 positions, with openings in both public and private schools.
- Professional and business services: Increased by 15 jobs, driven by demand for accounting and marketing professionals.
What Industries and Occupations Shrunk:
- Leisure and hospitality: Lost 60 jobs, primarily in seasonal positions tied to the holiday tourism industry.
- Retail trade: Shed 40 jobs, continuing a trend of automation and online shopping impacting brick-and-mortar stores.
- Construction: Declined by 20 jobs, reflecting the typical seasonal slowdown in winter months.
Compare to Same Month Last Year:
- Medford’s unemployment rate in December 2023 remained lower than December 2022 (4.5%), indicating sustained job market stability.
- Total non-farm employment, however, saw a slight decrease compared to December 2022, losing roughly 300 jobs.
Compare to Previous Month:
- December’s job losses followed a slight gain of 80 jobs in November 2023, suggesting a relatively flat trajectory for the Medford job market.
- The unemployment rate remained unchanged from November 2023, further solidifying the stability in the local labor force.
Future Outlook:
- Economic forecasts for 2024 predict moderate job growth in Medford, driven by continued expansion in healthcare, education, and professional services.
- Potential national economic headwinds, however, could impact local hiring trends, warranting cautious optimism in the coming months.
10 Growing Occupations in Medford:
- Registered Nurses
- Physician Assistants
- General and Operations Managers
- Software Developers and Programmers
- Accountants and Auditors
- Marketing Specialists
- Elementary and Middle School Teachers
- Home Health Aides
- Truck Drivers
- Retail Salespersons
10 Companies Hiring Now in Medford:
- Asante Rogue Regional Medical Center
- Jackson County School District
- Harry & David
- Lithia Motors
- US Cellular
- US Bank
- Rogue Credit Union
- Starbucks
- Lowe’s
- Safeway
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