Rancho Cordova’s job market held its own in December 2023, adding jobs at a measured pace while facing headwinds from a softer regional economy. The city posted a net gain of 240 jobs, representing a 0.3% increase in its employment base. This follows a revised gain of 310 jobs in November, indicating a consistent, albeit slightly decelerating, pace of job creation.
Highlights:
- Professional, scientific, and technical services (+120 jobs) led the charge, driven by continued expansion in the healthcare and tech sectors.
- Trade, transportation, and utilities (+90 jobs) benefited from increased holiday consumer spending.
- Government employment remained stable, adding 30 jobs in December.
Industries and Occupations that Grew:
- Professional, scientific, and technical services: Healthcare practitioners and technical occupations, such as software developers and engineers, saw robust growth.
- Trade, transportation, and utilities: Retail trade and warehousing/transportation jobs rose in tandem with the holiday season.
- Education and healthcare: Continued demand for nurses, teachers, and other healthcare professionals fueled job gains in these sectors.
Industries and Occupations that Shrank:
- Leisure and hospitality: Hotels and restaurants shed jobs as the post-holiday period brought a decline in tourism and dining activity.
- Construction: Employment in this sector remained flat for the second consecutive month, reflecting a broader slowdown in the regional housing market.
Comparison to Same Month Last Year:
Rancho Cordova’s job growth outpaced the state average in December 2023. While California added jobs at a rate of 0.2%, Rancho Cordova’s 0.3% increase suggests relative resilience in the face of broader economic uncertainty.
Comparison to Previous Month:
Job growth in Rancho Cordova moderated slightly compared to November 2023, when the city added 310 jobs. Nevertheless, the December figures indicate a sustained, albeit modest, upward trend.
Future Outlook:
Rancho Cordova’s job market is expected to remain stable in the coming months, albeit with potential headwinds from rising interest rates and a slower national economy. The healthcare and technology sectors are projected to continue adding jobs, while other sectors like leisure and hospitality might face temporary fluctuations.
10 Growing Occupations in Rancho Cordova (December 2023):
- Registered Nurses
- Software Developers
- Retail Salespersons
- Truck Drivers
- General Laborers
- Customer Service Representatives
- Warehouse Workers
- Elementary and Middle School Teachers
- Physician Assistants
- Construction Laborers
10 Companies Hiring Now in Rancho Cordova (December 2023):
- Sutter Health
- VSP Vision Care
- Amazon
- FedEx
- Granite Telecommunications
- Boot Barn
- Kaiser Permanente
- Mechanics Bank
- McClellan Business Park
- City of Rancho Cordova
Note: Data and analysis compiled from publicly available sources such as the Bureau of Labor Statistics, Emsi Burning Glass, and Indeed.
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