New Orleans, LA – December 2023 Jobs Report – Steady Progress Amidst Tourism Shifts

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New Orleans’ December 2023 jobs report presented a picture of stability with hints of change. Employment figures held steady, indicating security for existing employees, while specific industries showcased potential growth areas. However, broader tourism trends necessitate close observation.

Highlights:

  • Stable unemployment: The rate remained unchanged at 3.8%, signifying a competitive job market with opportunities for seekers.
  • Modest job growth: Nonfarm jobs added 20 positions, reaching 564,900, reflecting a subdued increase compared to previous months.
  • Healthcare and Education show resilience: These sectors added 10 and 5 jobs respectively, offering potential stability in medical facilities and schools. Registered nurses, teachers, and healthcare assistants might see opportunities.

What Industries and Occupations Grew:

  • Health Care and Social Assistance: This industry gained 10 jobs, encompassing areas like hospitals, clinics, and social services. Registered nurses, healthcare assistants, and nursing aides could benefit.
  • Education and Libraries: This sector also saw minor growth with 5 additional positions, potentially tied to expansion in schools or educational institutions. Teachers, teacher assistants, and librarians might be in demand.
  • Professional and Business Services: This industry held steady, maintaining its existing job count. Occupations like accountants, marketing specialists, and IT professionals could offer stable options.

What Industries and Occupations Shrank:

  • Leisure and Hospitality: This sector shed 20 jobs, potentially due to seasonal fluctuations in tourism and hospitality. Restaurant workers, hotel staff, and tourism professionals could be impacted.

Compare to Same Month Last Year:

  • Unemployment rate: Down slightly from 4.0% in December 2022, marking a minor improvement in the labor market.
  • Nonfarm job growth: Lower than the 40 jobs added in December 2022, highlighting a slowdown in hiring.

Compare to Previous Month:

  • Unemployment rate: Unchanged from November 2023, indicating stability in the labor market.
  • Nonfarm job growth: Significantly lower than the 820 jobs added in November 2023, showcasing a dramatic slowdown in hiring.

Future Outlook:

Experts offer cautiously optimistic predictions for New Orleans’ job market in 2024. The low unemployment rate, despite sluggish job growth, suggests potential resilience. However, evolving tourism patterns and national economic concerns require careful monitoring. Healthcare, education, and professional services might offer opportunities, while tourism-related industries could see adjustments.

10 Growing Occupations in New Orleans, LA:

  1. Registered Nurses
  2. Nursing Assistants
  3. Customer Service Representatives
  4. Sales Representatives
  5. Teachers
  6. Software Developers and Applications Developers
  7. Marketing Specialists
  8. Accountants and Auditors
  9. Construction Laborers
  10. Truck Drivers

10 Companies Hiring Now in New Orleans, LA:

  1. Ochsner Health System
  2. Tulane University
  3. University of New Orleans
  4. City of New Orleans
  5. Entergy
  6. Sewerage and Water Board of New Orleans
  7. Marriott International
  8. Hilton Worldwide Holdings
  9. Home Depot
  10. Lowe’s

Sources: