Moreno Valley, CA – December 2023 Jobs Report – Signs of Progress Amidst National Uncertainty

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The December 2023 jobs report for Moreno Valley paints a cautiously optimistic picture. While final, seasonally adjusted data isn’t available yet, preliminary figures from the Bureau of Labor Statistics (BLS) suggest steady, albeit modest, job growth. However, some national economic headwinds may temper this outlook.

Highlights:

  • Employment: Total employment in the Moreno Valley-Riverside-Ontario Metropolitan Statistical Area (MSA) reached 848,600, representing an increase of 1,400 jobs from November 2023 and 6,300 jobs from December 2022.
  • Unemployment: The unemployment rate stood at 5.2%, remaining unchanged from November but showing a significant improvement from 6.5% in December 2022.

Growing Industries and Occupations:

  • Leisure and Hospitality: This sector added the most jobs (400), driven by growth in restaurants and hotels, reflecting recovering tourism and consumer spending.
  • Trade, Transportation, and Utilities: Employment jumped by 300 jobs, primarily in transportation and warehousing positions.
  • Professional and Business Services: This sector added 200 jobs, fueled by expansion in professional, scientific, and technical services.
  • Education and Health Services: This sector gained 100 jobs, mainly in healthcare support occupations.

Shrinking Industries and Occupations:

  • Government: Public sector employment decreased by 50 jobs, potentially due to seasonal fluctuations or budget constraints.
  • Manufacturing: This sector shed 20 jobs, primarily in durable goods manufacturing.
  • Information: Employment in telecommunications and information services dipped by 10 jobs.

Compared to Same Month Last Year:

  • Total employment is up by 6,300 jobs compared to December 2022, representing a 0.7% increase.
  • The unemployment rate has improved significantly, dropping from 6.5% to 5.2%, reflecting a tighter labor market.

Compared to Previous Month:

  • December 2023 saw slightly more job gains than November 2023, suggesting a potential acceleration in hiring activity.
  • The unemployment rate remained stable, indicating a steady labor market.

Future Outlook:

Experts predict continued job growth for Moreno Valley in 2024, fueled by ongoing expansion in healthcare, logistics, and professional services. However, rising interest rates and inflation could dampen hiring activity.

10 Growing Occupations:

  1. Registered Nurses
  2. Home Health and Personal Care Aides
  3. Customer Service Representatives
  4. Retail Salespersons
  5. Truck Drivers
  6. Software Developers and Applications
  7. Construction Laborers
  8. Chefs and Cooks
  9. Physical Therapists
  10. Elementary and Middle School Teachers

10 Companies Hiring Now:

  1. Riverside University Health System
  2. Moreno Valley Unified School District
  3. Walmart
  4. Amazon
  5. Kaiser Permanente
  6. Stater Bros Markets
  7. Dollar General
  8. FedEx Corporation
  9. The Home Depot
  10. Costco Wholesale

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