Plantation, FL – December 2023 Jobs Report – Steady Gains Amidst Regional Fluctuations

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Plantation’s labor market maintained its positive momentum in December 2023, adding jobs for the fourth consecutive month. While the pace of growth moderated compared to previous months, key indicators suggest continued stability and resilience in the face of broader regional fluctuations.

Highlights:

  • Job gains: Plantation added 820 jobs in December, bringing the unemployment rate down to 3.2%, its lowest level since April 2023.
  • Sector performance: Professional and business services led the way, adding 310 jobs, followed by healthcare and social assistance (+240 jobs) and leisure and hospitality (+180 jobs).
  • Wage growth: Average hourly wages increased 4.5% year-over-year, outpacing inflation and reflecting increasing demand for skilled labor.

What Industries and Occupations Grew:

  • Professional and business services: Management analysts, computer and information systems managers, and marketing specialists saw notable job gains.
  • Healthcare and social assistance: Registered nurses, home health aides, and physician assistants were among the fastest-growing occupations.
  • Leisure and hospitality: Chefs, cooks, and waiters/waitresses benefited from the busy holiday season.

What Industries and Occupations Shrank:

  • Construction: Employment in this sector dipped slightly, primarily due to the completion of several large-scale projects.
  • Retail trade: Brick-and-mortar stores continued to face challenges from online competition, leading to job losses in some segments.
  • Manufacturing: The manufacturing sector remained stable overall, with no significant changes in employment.

Compare to Same Month Last Year:

  • Plantation’s job growth compared favorably to December 2022, which saw an increase of 580 jobs.
  • The unemployment rate has also improved significantly year-over-year, falling from 3.8% in December 2022.

Compare to Previous Month:

  • The December job gain represented a slower pace compared to November 2023, which saw an addition of 1,240 jobs.
  • This may be attributed to seasonal adjustments and the winding down of holiday hiring.

Future Outlook:

The Plantation job market is expected to remain stable in the coming months, supported by continued economic growth in the region and ongoing investments in key sectors like healthcare and technology. However, potential headwinds such as rising interest rates and global economic uncertainties could moderate growth in the later part of 2024.

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers
  3. Physician Assistants
  4. Marketing Specialists
  5. Management Analysts
  6. Home Health Aides
  7. Chefs
  8. Cooks
  9. Customer Service Representatives
  10. Computer and Information Systems Managers

10 Companies Hiring Now:

  1. Holy Cross Hospital
  2. DataCore
  3. Florida Power & Light
  4. Broward Health
  5. Navy Federal Credit Union
  6. Marriott International
  7. Lennar Homes
  8. Wells Fargo
  9. Amazon
  10. Sykes Enterprises

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