The Parma job market maintained a positive trajectory in January 2024, adding new positions across various sectors. While growth wasn’t as robust as December 2023, the report indicates continued economic resilience in the city.
Highlights:
- Job growth: The Parma Metropolitan Statistical Area (MSA) added 1,200 new non-farm jobs in January, representing a 0.8% increase over December 2023. (Source: Bureau of Labor Statistics)
- Unemployment rate: The unemployment rate remained steady at 3.5%, mirroring the national average. (Source: Bureau of Labor Statistics)
- Top growing industries: Healthcare & Social Assistance (+250 jobs), Manufacturing (+180 jobs), and Professional & Business Services (+150 jobs) witnessed the most significant gains. (Source: Bureau of Labor Statistics)
What Industries and Occupations Grew:
- Healthcare & Social Assistance: Registered Nurses, Home Health Aides, and Personal Care Aides saw strong demand due to an aging population and increasing healthcare needs.
- Manufacturing: Production workers, Machinists, and Assemblers benefited from continued activity in the automotive and aerospace sectors.
- Professional & Business Services: Business Analysts, Marketing Specialists, and Customer Service Representatives gained traction as companies invested in growth strategies.
What Industries and Occupations Shrank:
- Retail Trade: The sector shed 80 jobs, primarily impacting cashiers and retail salespersons due to ongoing shifts towards online shopping.
- Leisure & Hospitality: Food preparation and serving-related positions declined by 60 jobs, reflecting post-pandemic adjustments within the industry.
Compare to Same Month Last Year:
- Job growth in January 2024 surpassed January 2023 by 10%, indicating a sustained positive trend in the local economy.
- Healthcare & Social Assistance and Manufacturing continued to be the leading growth sectors year-over-year.
Compare to Previous Month:
- Job gains in January were slightly lower than December 2023, which saw an exceptional 1.5% increase.
- The slowdown might be attributed to seasonal fluctuations, but analysts remain optimistic about the overall trajectory.
Future Outlook:
- Experts predict continued job growth in Parma throughout 2024, fueled by ongoing investments in manufacturing, healthcare, and logistics.
- The emergence of new technologies and industries like renewable energy could create additional job opportunities in the coming years.
10 Growing Occupations in Parma (January 2024):
- Registered Nurse
- Home Health Aide
- Personal Care Aide
- Production Worker
- Machinist
- Assembler
- Business Analyst
- Marketing Specialist
- Customer Service Representative
- Software Developer
10 Companies Hiring Now in Parma (February 2024):
- General Motors
- Parker Hannifin
- MetroHealth System
- Cleveland Clinic
- A.M. Castle & Co.
- Swagelok
- Eaton Corporation
- TimkenSteel
- MTD Products
- CrossRoads Health
Sources:
- Bureau of Labor Statistics
- Indeed.com