Overview
Port St. Lucie’s job market continued its positive trend in January 2024, exhibiting stability despite national concerns of a potential economic slowdown. The unemployment rate remained low at an estimated 3.6%, indicating a tight labor market.
Highlights
- The civilian labor force held steady at approximately 239,200.
- Nonfarm employment grew slightly to 174,100, reflecting continued expansion in the private sector.
- The construction industry saw modest job growth, potentially driven by ongoing residential and commercial development projects.
What Industries and Occupations Grew
- Construction: Employment in this sector edged up, adding an estimated 100 jobs compared to December 2023.
- Trade, Transportation, and Utilities: This industry remained stable, with no significant fluctuations in employment levels.
What Industries and Occupations Shrank
- Manufacturing: Employment figures remained flat in manufacturing, suggesting no major growth or decline.
- Professional and Business Services: This sector also exhibited stability with minimal job changes.
Compare to Same Month Last Year
- The unemployment rate in January 2024 (3.6%) was slightly lower compared to January 2023 (3.8%).
- Nonfarm employment increased by approximately 4,000 jobs year-over-year, reflecting a trend of moderate growth.
Compare to Previous Month
- The civilian labor force decreased slightly from December 2023, but the change fell within the range of normal monthly fluctuations.
- Nonfarm employment saw a minor increase compared to December 2023, suggesting continued economic activity.
Future Outlook
While national economic forecasts remain guarded, Port St. Lucie’s job market seems to be on solid ground. The construction industry’s modest growth points towards ongoing development, potentially fueling job creation in related sectors. Monitoring national economic trends and their potential impact on local industries will be crucial in the coming months.
10 Growing Occupations (Source: Bureau of Labor Statistics [bls.gov])
- Registered Nurses
- Home Health Aides and Personal Care Aides
- Software Developers, Applications
- Wind Turbine Service Technicians
- Solar Photovoltaic Installers
- Medical Assistants
- Physician Assistants
- Brickmasons and Blockmasons
- Occupational Therapist Assistants and Aides
- Physical Therapist Assistants and Aides
10 Companies Hiring Now
- Cleveland Clinic
- Scripps Health
- Tradition Senior Living
- St. Lucie Public Schools
- City of Port St. Lucie
- Walmart
- The Home Depot
- Publix
- Amazon
- ADP