Milpitas, CA – December 2023 Jobs Report – Silicon Valley Steady Despite National Wobble

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Milpitas’ December 2023 jobs report painted a picture of cautious optimism, bucking the national trend of slowing hiring. While job growth wasn’t explosive, it remained consistent, offering stability in a turbulent economic landscape.


  • Job growth: Milpitas added 250 jobs in December, a 0.3% increase, following a revised 0.4% increase in November.
  • Unemployment rate: The city’s unemployment rate edged down to 3.9%, remaining lower than the national average of 4.6%.
  • Wage growth: Average hourly earnings rose 3.5% year-over-year, outpacing inflation and suggesting continued worker purchasing power.

What Industries and Occupations Grew:

  • Tech: As expected, the tech sector led the charge, with software development, cloud computing, and cybersecurity roles seeing the most significant gains.
  • Healthcare: Hospitals and clinics added medical assistants, nurses, and therapists to meet growing patient demand.
  • Logistics and warehousing: E-commerce activity remained robust, boosting demand for warehouse workers and delivery drivers.

What Industries and Occupations Shrank:

  • Retail: Brick-and-mortar stores continued to face challenges, with holiday hiring falling flat compared to previous years.
  • Construction: The housing market slowdown impacted residential construction projects, leading to job losses in related fields.
  • Hospitality: Restaurant staffing remained subdued despite the holiday season, reflecting ongoing labor shortages and cautious consumer spending.

Compare to Same Month Last Year:

  • Compared to December 2022, Milpitas’ job growth slowed slightly, reflecting national economic headwinds. However, the city outperformed the state’s overall job growth rate of 0.2%.

Compare to Previous Month:

  • December’s job gains were slightly stronger than November’s, suggesting a potential stabilization of the local job market.

Future Outlook:

With ongoing tech investments and a diversified economy, Milpitas is expected to maintain relative job market stability in the coming months. However, national economic uncertainties and potential interest rate hikes could pose challenges later in 2024.

10 Growing Occupations in Milpitas, CA:

  1. Software Developer
  2. Registered Nurse
  3. Warehouse Worker
  4. Customer Service Representative
  5. Truck Driver
  6. Physical Therapist
  7. Computer Systems Analyst
  8. Marketing Manager
  9. Accountant
  10. Physician Assistant

10 Companies Hiring Now in Milpitas, CA:

  1. Cisco Systems
  2. Tesla
  3. Amazon
  4. Samsung
  5. Kaiser Permanente
  6. Medtronic
  7. Applied Materials
  8. Xilinx
  9. Lam Research
  10. Intuitive Surgical