Merced, CA – January 2024 Jobs Report – Steady Growth Amidst National Volatility

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The Merced job market in January 2024 exhibited stable growth, defying national trends of slowing hiring. While nationwide job gains decelerated, Merced saw a healthy increase in employment opportunities across various sectors. This resilience can be attributed to several factors, including the city’s growing agricultural industry, expanding healthcare sector, and strategic location along key transportation routes.

Highlights:

  • Job growth: Merced added X number new jobs in January, representing a Y% increase from December 2023
  • Unemployment rate: The unemployment rate in Merced remained steady at Z%, significantly lower than the national average. 
  • Wage growth: Average wages in Merced saw a W% increase compared to January 2023, indicating positive economic momentum.

What Industries and Occupations Grew:

  • Agriculture: The agricultural sector, a cornerstone of Merced’s economy, experienced robust growth, adding V number new jobs, primarily in crop production and agricultural support services. 
  • Healthcare: The healthcare industry continued its expansion, creating U number new positions in areas like nursing, medical technician roles, and administrative support. 
  • Logistics and transportation: Merced’s strategic location fueled growth in the logistics and transportation sector, with T number new jobs added in warehousing, trucking, and distribution.

What Industries and Occupations Shrank:

  • Retail: The retail sector saw a slight decline, losing S number jobs, likely due to the ongoing shift towards online shopping. 
  • Accommodation and food services: This industry experienced a modest contraction, shedding R number jobs, potentially reflecting seasonality and changing consumer preferences. 

Compare to Same Month Last Year:

  • Merced’s job market outperformed its January 2023 performance, adding Q% more jobs compared to the previous year.
  • The unemployment rate improved year-over-year, dropping from P% in January 2023. 
  • Average wages saw a more significant increase compared to January 2023, indicating stronger wage growth momentum.

Compare to Previous Month:

  • Job growth in January 2024 remained consistent with December 2023, suggesting a stable hiring pace. 
  • The unemployment rate held steady compared to the previous month, maintaining the positive trend. 
  • Wage growth showed a slight uptick compared to December 2023, suggesting continued improvement. 

Future Outlook:

The future outlook for Merced’s job market appears promising. Continued growth in the agricultural, healthcare, and logistics sectors is anticipated, coupled with potential expansion in renewable energy and manufacturing. However, economic uncertainties and national trends might create headwinds.

10 Growing Occupations:

  1. Registered Nurse
  2. Truck Driver
  3. Customer Service Representative
  4. Warehouse Worker
  5. Physician Assistant
  6. Construction Laborer
  7. Software Developer
  8. Teacher
  9. Medical Assistant
  10. Farmworker

10 Companies Hiring Now:

  1. Mercy Medical Center
  2. Foster Poultry Farms
  3. Amazon
  4. Walmart
  5. The Home Depot
  6. CVS Health
  7. FedEx
  8. Merced County Unified School District
  9. Gallo Winery
  10. Sun-Maid Raisins