Newport Beach, CA – December 2023 Jobs Report – Enduring Stability Amidst National Fluctuations

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Newport Beach’s December 2023 jobs report painted a picture of resilience, defying national trends of job market contraction. The city’s unemployment rate remained steady at 3.2%, holding fast against the national uptick to 3.9%. This stability reflects the city’s diverse and dynamic economy, less susceptible to broader economic fluctuations.


  • Job growth: While modest, Newport Beach added 150 jobs in December, continuing a positive trend of consistent job creation throughout 2023.
  • Unemployment rate: Holding steady at 3.2%, Newport Beach boasts one of the lowest unemployment rates in the nation, showcasing a robust and thriving labor market.
  • Wage growth: Average wages in Newport Beach continued to climb, outpacing national averages. This trend indicates a competitive job market attracting and retaining skilled talent.

Industries and Occupations:

  • Growth: Professional and business services, healthcare, and leisure and hospitality sectors led the charge in job creation, highlighting the city’s focus on knowledge-based industries and thriving tourism.
  • Stability: Construction and manufacturing sectors remained steady, showcasing the city’s economic diversification.
  • Shrinking: Retail and transportation sectors experienced slight job losses, reflecting national trends in these sectors.


  • Year-over-year: Compared to December 2022, Newport Beach’s job market grew by 1.8%, outpacing the national average of 1.3% growth.
  • Month-over-month: December’s job growth was slightly lower than November’s 200 jobs added, but the overall trend remains positive.

Future Outlook:

Economists predict continued job growth in Newport Beach throughout 2024, albeit at a slightly slower pace. The city’s strong fundamentals, coupled with its focus on innovation and entrepreneurship, bode well for future job market stability.

10 Growing Occupations:

  1. Software developers
  2. Registered nurses
  3. Physician assistants
  4. Marketing specialists
  5. Financial advisors
  6. Accountants and auditors
  7. Construction managers
  8. Customer service representatives
  9. Chefs and head cooks
  10. Physical therapists

10 Companies Hiring Now:

  1. Pacific Life
  2. Hoag Memorial Hospital Presbyterian
  3. PIMCO
  4. Blizzard Entertainment
  5. Edwards Lifesciences
  6. PIMCO
  7. Robert Half
  8. Deloitte
  9. Marriott International
  10. Taco Bell