Sacramento, CA – December 2023 Jobs Report: Modest Growth Persists, Future Holds Question Marks

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The December 2023 jobs report for Sacramento paints a picture of subdued optimism. While job creation slowed compared to previous months, key sectors continued to expand, offering opportunities for qualified candidates. However, national economic uncertainties cast a shadow on the future outlook.

Highlights:

  • Unemployment inches down: The rate dipped to 4.5%, signifying a slightly improved job market for qualified job seekers.
  • Job growth slows, but remains positive: Nonfarm jobs added 200 positions, reaching 1,077,900, marking a significant decline from previous months’ momentum.
  • Trade, transportation, and utilities drive the way: This sector added 80 jobs, encompassing areas like warehousing, logistics, and retail trade. Warehouse associates, truck drivers, and retail salespersons could see opportunities.

What Industries and Occupations Grew:

  • Trade, Transportation, and Utilities: This sector added 80 jobs, showcasing potential growth in warehousing, logistics, and retail trade. Warehouse associates, truck drivers, and retail salespersons might benefit.
  • Professional and Business Services: This sector added 40 jobs, potentially tied to growth in finance, consulting, or technology. Accountants, marketing specialists, and IT professionals could find opportunities.
  • Leisure and Hospitality: This sector added 30 jobs, reflecting a slight uptick in hiring for seasonal positions, potentially due to holiday spending. Cashiers, servers, and customer service representatives in restaurants and hotels could find opportunities.

What Industries and Occupations Shrank:

  • No industries reported significant job losses in December 2023. However, some seasonal positions in leisure and hospitality might have ended with the holiday season.

Compare to Same Month Last Year:

  • Unemployment rate: Lower than 4.7% in December 2022, highlighting a slight improvement in the labor market.
  • Nonfarm job growth: Lower than the 400 jobs added in December 2022, showcasing a deceleration in hiring compared to the previous year.

Compare to Previous Month:

  • Unemployment rate: Unchanged from November 2023, indicating stability in the labor market.
  • Nonfarm job growth: Significantly lower than the 700 jobs added in November 2023, marking a slowdown in hiring.

Future Outlook:

Experts offer a cautiously optimistic, yet uncertain, prognosis for Sacramento’s job market in 2024. The stable unemployment rate and growth in key sectors suggest potential resilience. However, monitoring national economic trends and their impact on specific industries, especially construction and government, is crucial. Trade, professional services, and leisure and hospitality could offer opportunities, while adaptability will be key in navigating potential shifts.

10 Growing Occupations in Sacramento, CA:

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

10 Companies Hiring Now in Sacramento, CA:

  1. Sutter Health
  2. Kaiser Permanente
  3. Aerojet Rocketdyne
  4. SMUD (Sacramento Municipal Utility District)
  5. The Sacramento Bee
  6. Sacramento City Unified School District
  7. Raley’s Supermarkets
  8. Costco 
  9. Amazon
  10. Walmart

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