Renton’s job market ended 2023 on a stable note, reflecting the city’s position as a growing tech hub. While data for December is yet to be officially released by the Bureau of Labor Statistics (BLS), December typically mirrors November’s trends, which showed positive signs.
Highlights:
- Unemployment rate: Estimated at 3.2% in November 2023, remaining near pre-pandemic lows and showcasing a robust job market.
- Job growth: November saw a 1.2% increase in nonfarm jobs compared to October, exceeding national and state averages.
- Sectors: Professional and business services, manufacturing, and leisure and hospitality exhibited notable growth.
Industries and Occupations that Grew:
- Professional and business services: This sector added the most jobs, driven by growth in computer systems design, management consulting, and employment services.
- Manufacturing: Boeing’s continued production ramp-up boosted the industry, particularly in aircraft manufacturing and parts fabrication.
- Leisure and hospitality: Increased tourism and holiday spending fueled hiring in restaurants, hotels, and entertainment venues.
Industries and Occupations that Shrunk:
- Retail trade: E-commerce competition and changing consumer habits led to job losses in brick-and-mortar stores.
- Administrative and support services: Automation and outsourcing contributed to declines in occupations like secretaries and bookkeeping clerks.
Comparison to Same Month Last Year:
- Renton’s job market outperformed both national and state averages in terms of year-over-year growth.
- The professional and business services sector saw the most significant year-over-year expansion, followed by manufacturing.
Comparison to Previous Month:
- Job growth accelerated from October to November, indicating a strengthening local economy.
- The leisure and hospitality sector saw the most significant month-over-month increase, reflecting seasonal hiring trends.
Future Outlook:
- Experts predict continued job growth in 2024, driven by Boeing’s production plans and the expanding tech sector.
- Emerging industries like clean energy and healthcare are also expected to create new job opportunities.
10 Growing Occupations:
- Software Developers and Applications Developers
- Computer Systems Analysts
- Registered Nurses
- Customer Service Representatives
- Personal Care Aides
- Sales Representatives
- Wind Turbine Service Technicians
- Solar Photovoltaic Installers
- Home Health Aides
- Physical Therapist Assistants
10 Companies Hiring Now:
- Boeing
- Amazon
- Microsoft
- T-Mobile
- Providence
- Expedia Group
- Costco Wholesale
- Starbucks
- Lowe’s
- The Home Depot
Please note: While this report is based on publicly available data and expert insights, it is not an official government report. The official December 2023 jobs data for Renton, WA, will be released by the BLS in early February 2024.
Resources:
- Bureau of Labor Statistics
- City of Renton Economic Development
- Renton Chamber of Commerce