Rochester’s December 2023 jobs report painted a mixed picture, with continued strength in healthcare, a surge in hospitality jobs, and some contraction in manufacturing and retail. Overall, the unemployment rate remained steady at 2.8%, indicating a tight labor market with more open positions than qualified candidates.
Highlights:
- Hospitality sector booms: Hotels, restaurants, and tourism-related businesses added over 800 jobs, driven by holiday festivities and increased travel.
- Manufacturing sheds positions: The manufacturing sector lost 250 jobs, primarily due to automation and slowdowns in specific industries.
- Retail employment stable: Retail trade held steady, with no significant gains or losses compared to November 2023.
- Healthcare remains a powerhouse: The healthcare sector, anchored by Mayo Clinic, continued to be a major job creator, adding 150 positions across various fields.
Industry and Occupation Growth:
- Leisure and hospitality: Servers, cooks, hotel front desk associates, and travel guides saw the highest job growth.
- Professional and business services: Accountants, financial advisors, and marketing specialists experienced moderate job gains.
- Healthcare: Registered nurses, nurse practitioners, and medical technicians remained in high demand.
Industry and Occupation Shrinkage:
- Manufacturing: Production workers, assemblers, and machine operators faced job losses due to automation and outsourcing.
- Retail trade: Cashiers, sales associates, and stock clerks saw limited job growth compared to previous months.
Compared to Same Month Last Year:
- Overall employment in Rochester increased by 2.5% compared to December 2022.
- Healthcare and hospitality led the job growth, while manufacturing and retail saw slower gains.
Compared to Previous Month:
- The unemployment rate remained unchanged at 2.8% from November 2023.
- Hospitality added the most new jobs, followed by professional and business services.
- Manufacturing experienced the only notable job losses.
Future Outlook:
- Experts predict continued growth in healthcare and hospitality sectors in 2024.
- Manufacturing is expected to remain stable with potential for slight job gains.
- Retail trade growth may be slow due to online shopping trends.
10 Growing Occupations in Rochester, MN:
- Registered Nurse
- Physician Assistant
- Software Developer
- Marketing Specialist
- Financial Advisor
- Accountant
- Customer Service Representative
- Truck Driver
- Teacher
- Web Developer
10 Companies Hiring Now in Rochester, MN:
- Mayo Clinic
- IBM
- Charter Communications
- Mayo Clinic Health System
- OptumServe
- Hy-Vee
- U.S. Bank
- Target
- Rochester Public Schools
- Mayo Clinic Foundation
Resources:
- City of Rochester – Labor Market Information
- Minnesota Department of Employment and Economic Development
- Bureau of Labor Statistics – Rochester, MN