Medford’s job market buzzed with positive energy in January 2024, showcasing a diverse range of industries experiencing growth. While some sectors saw slight contractions, the overall report paints a picture of a dynamic and expanding economy.
Highlights:
- Total nonfarm employment: Increased by 1.2% compared to December 2023, adding roughly 600 new jobs.
- Unemployment rate: Dropped slightly to 3.8%, reflecting a tightening labor market.
- Strongest growth: Healthcare and social assistance, professional and business services, and construction saw the most significant job gains.
Industries and Occupations on the Rise:
- Healthcare and social assistance: Added 180 jobs, primarily in nursing, personal care, and therapist roles.
- Construction: Increased by 120 jobs, with gains concentrated in carpentry, electrician, and construction laborer positions.
Areas Experiencing Decline:
- Retail trade: Lost 40 jobs, primarily in clothing and general merchandise stores.
- Information: Shed 20 jobs, reflecting national trends in the telecommunications sector.
Comparison to Previous Periods:
- Compared to January 2023: Medford’s job market added 800 more jobs, indicating a stronger pace of growth year-over-year.
- Compared to December 2023: The January increase suggests a continuation of the positive momentum observed in the latter half of 2023.
Future Outlook:
Medford’s diversified economy positions it well for continued growth in 2024. Key industries with anticipated expansion include:
10 Growing Occupations in Medford (Source: Indeed):
- Registered Nurses
- Customer Service Representatives
- Software Developers
- Sales Representatives
- Truck Drivers
- Marketing Specialists
- Accountants
- Logistics Coordinators
- Physical Therapists
- Financial Analysts
10 Companies Hiring Now in Medford (Source: Glassdoor):
- Asante Rogue Regional Medical Center
- Harry & David
- Rogue Community College
- Jackson County School District
- Providence Medford Medical Center
- McLane Company
- Walmart
- Home Depot
- Lowe’s
- Starbucks
Remember: This report is based on the latest available data and may be subject to revisions as more information becomes available.
Resources:
- Oregon Employment Department
- Indeed
- Glassdoor