December 2023 presented a contrasting snapshot of Ontario’s job market. While the unemployment rate remained steady, job growth saw a decline compared to November. Some sectors like construction and healthcare showed promise, while others faced contraction. This mixed picture suggests cautious optimism for the future.
Highlights:
- Stable unemployment rate: At 6.3%, the unemployment rate held firm, indicating neither widespread joblessness nor overwhelming demand for workers.
- Slowed job growth: The nonfarm job count lost 75 positions compared to November, showcasing a significant deceleration in job creation.
- Construction and healthcare offer glimmers of hope: These sectors added 5 and 10 jobs respectively, hinting at potential growth opportunities.
What Industries and Occupations Grew:
- Construction: This industry gained 5 jobs, possibly tied to ongoing residential and commercial building projects.
- Healthcare and Social Assistance: This sector added 10 jobs, potentially reflecting growth in hospitals, clinics, and other healthcare providers.
- Other Services: This sector saw stable employment with no significant changes, but experts anticipate future projects could stimulate growth in areas like personal and repair services.
What Industries and Occupations Shrank:
- Transportation and Warehousing: This sector lost 20 jobs, potentially due to fluctuations in logistics and freight movement.
- Retail Trade: This industry shed 15 jobs, possibly tied to ongoing challenges in brick-and-mortar retail or post-holiday adjustments.
- Leisure and Hospitality: This sector also lost 10 jobs, likely reflecting seasonal fluctuations in tourism and hospitality.
Compare to Same Month Last Year:
- Unemployment rate: Down slightly from 6.6% in December 2022, signifying a minor improvement in the labor market.
- Nonfarm job growth: Lower than the 30 jobs added in December 2022, showcasing a slowdown in job creation.
Compare to Previous Month:
- Unemployment rate: Remained unchanged compared to November 2023, indicating a stable labor market.
- Nonfarm job growth: Decreased significantly from the 130 jobs added in November 2023, reflecting a stark negative trend.
Future Outlook:
Economists predict cautious optimism for Ontario’s job market in 2024. The stable unemployment rate and mixed job growth suggest a balanced but evolving market. Potential headwinds like national economic concerns and inflation could create uncertainty. Healthcare, construction, and other services might offer growth opportunities, but broader factors could impact the overall outlook.
10 Growing Occupations in Ontario, CA:
- Registered Nurses
- Nursing Assistants
- Construction Laobrers
- Customer Service Representatives
- Home Health Aides
- Software Developers and Applications Developers
- Retail Salespersons
- Truck Drivers
- Marketing Specialists
- Teachers
10 Companies Hiring Now in Ontario, CA:
- Kaiser Permanente
- Ontario International Airport Authority
- City of Ontario
- St. Bernardine Medical Center
- Amazon
- Walmart
- Target
- The Home Depot
- Lowe’s
- FedEx
Sources:
- California Employment Development Department – Ontario-San
- Bernardino-Riverside, CA Metropolitan Division
- Indeed Hiring in Ontario, CA
- Glassdoor Jobs in Ontario, CA