Rancho Cucamonga, CA – December 2023 Jobs Report – Steady Gains Amidst Shifting Landscape

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December 2023 brought a mixed bag for Rancho Cucamonga’s job market. While the unemployment rate remained unchanged, indicating a balanced labor market, the month delivered noteworthy job growth compared to November. Key sectors like manufacturing and trade showed positive movement, suggesting potential expansion in these areas, while others experienced slight contractions.

Highlights:

  • Stable unemployment rate: At 6.8%, the unemployment rate held steady, signifying neither widespread joblessness nor overwhelming demand for workers.
  • Modest job growth: The nonfarm job count added 80 positions compared to November, showcasing a positive upward trend in job creation.
  • Manufacturing and trade see promising gains: These sectors added 40 and 30 jobs respectively, hinting at potential expansion in these areas.

What Industries and Occupations Grew:

  • Manufacturing: As mentioned above, this sector added 40 jobs, potentially reflecting growth in aerospace, defense, and other manufacturing industries.
  • Trade, Transportation, and Utilities: This sector gained 30 jobs, possibly driven by continued demand in logistics and retail.
  • Professional and Business Services: This industry saw stable employment with no significant changes, but experts anticipate future projects could stimulate growth.

What Industries and Occupations Shrank:

  • Leisure and Hospitality: This sector lost 20 jobs, potentially due to seasonal fluctuations in tourism and hospitality.
  • Government: This sector shed 10 jobs, which could be attributed to budgetary constraints or seasonal fluctuations.
  • Information: This industry also lost 10 jobs, possibly reflecting automation trends or outsourcing practices.

Compare to Same Month Last Year:

  • Unemployment rate: Down slightly from 7.1% in December 2022, indicating a minor improvement in the labor market.
  • Nonfarm job growth: Significantly higher than the 20 jobs added in December 2022, showcasing a clear improvement in job creation.

Compare to Previous Month:

  • Unemployment rate: Remained unchanged compared to November 2023, signifying a stable labor market.
  • Nonfarm job growth: Increased from the 60 jobs added in November 2023, showing a positive upward trend.

Future Outlook:

Economists predict cautious optimism for Rancho Cucamonga’s job market in 2024. The stable unemployment rate and positive job growth suggest a balanced market, but potential headwinds like inflation and national economic concerns could create uncertainty. Growth opportunities might lie in manufacturing, trade, and healthcare, but broader factors could impact the overall outlook.

10 Growing Occupations in Rancho Cucamonga, CA:

  1. Registered Nurses
  2. Customer Service Representatives
  3. Logistics Coordinators
  4. Software Developers and Applications Developers
  5. Truck Drivers
  6. Sales Representatives
  7. Marketing Specialists
  8. Construction Laborers
  9. Home Health and Personal Care Aides
  10. Warehouse Associates

10 Companies Hiring Now in Rancho Cucamonga, CA:

  1. The Boeing Company
  2. NFI Industries
  3. Lewis Group of Companies
  4. Kaiser Permanente
  5. Stater Bros. Markets
  6. Amazon
  7. Target
  8. The Home Depot
  9. Lowe’s
  10. FedEx

Sources: