The December 2023 jobs report for Portland paints a picture of moderate job growth while reflecting the typical seasonal slowdown in hiring during the holiday period. Though not as robust as previous months, key industries continued to expand, offering opportunities for qualified job seekers. However, staying informed about future trends remains crucial.
Key Points:
- Unemployment holds steady: Remaining stable at 3.8%, the unemployment rate suggests a competitive job market for qualified applicants.
- Job growth slows down: With 400 net new positions added, nonfarm jobs reached 839,100, marking a decrease in hiring momentum compared to previous months.
- Ambulatory healthcare services lead the way: This sector added 900 jobs, indicating potential expansion in outpatient clinics and medical facilities. Registered nurses, nursing assistants, medical assistants, and therapists could see opportunities.
Industry and Occupation Highlights:
- Growth: Ambulatory healthcare services (+900), Social assistance (+1,200), Construction (+200).
- Shrinking: Retail trade (-2,300). Although following the usual holiday season pattern, this decline signifies a decrease in temporary retail positions.
Historical Comparisons:
- Improvement over December 2022: Lower unemployment rate (3.8% vs. 4.0%) showcases a slight improvement in the labor market.
- Slower pace than December 2022: Lower job growth (400 jobs vs. 800 jobs) compared to the previous year, highlighting a deceleration in hiring.
Future Outlook:
Experts offer a cautiously optimistic view. The stable unemployment rate and growth in key sectors suggest potential resilience. However, national economic trends and their impact on specific industries, like technology and manufacturing, necessitate close monitoring. Adaptability and upskilling will be key in navigating potential shifts.
10 Growing Occupations in Portland, OR:
- Registered Nurses
- Nursing Assistants
- Software Developers and Applications Developers
- Sales Representatives
- Marketing Specialists
- Accountants and Auditors
- Construction Laborers
- Customer Service Representatives
- Teachers
- Truck Drivers
10 Companies Hiring Now in Portland, OR:
- Nike
- Intel
- Oregon Health & Science University
- Providence Health
- Adidas
- Kaiser Permanente
- Portland Public Schools
- Wells Fargo
- Amazon
- Starbucks
Sources:
- Bureau of Labor Statistics – Portland-Vancouver-Hillsboro, OR-WA MSA
- Oregon Employment Department – December 2023 News Release
- Indeed Hiring in Portland, OR
- Glassdoor Jobs in Portland, OR