San Marcos, CA – January 2024 Jobs Report – Stability amidst Seasonal Shifts

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The January 2024 jobs report for San Marcos paints a picture of relative stability compared to December 2023, with minor fluctuations in employment levels across most sectors. The unemployment rate remained steady at 4.3%, indicating a balanced labor market. However, deeper analysis reveals subtle shifts within specific industries and occupations.

Highlights:

  • Overall employment: Slight decline of 18 jobs from December 2023 (1.525 million to 1.524 million).
  • Unemployment rate: Stable at 4.3%.
  • Nonfarm wage and salary employment: Minor increase of 0.6 jobs (1.590.5 million to 1.591.1 million).

What Industries and Occupations Grew:

  • Construction: Continued growth with 1.8 additional jobs, likely linked to ongoing commercial and residential development projects.
  • Trade, Transportation, and Utilities: Modest expansion of 0.8 jobs, potentially driven by holiday season retail activity.
  • Management occupations: Experienced the most significant growth within industries, adding 70 jobs.

What Industries and Occupations Shrank:

  • Manufacturing: Declined by 10 jobs, reflecting a national trend of manufacturing job losses.
  • Leisure and Hospitality: Witnessed a seasonal decrease of 30 jobs, possibly due to the post-holiday slowdown.
  • Production occupations: Faced the highest job losses among occupations, shrinking by 50 positions.

Compare to Same Month Last Year:

  • Overall employment: Increased by 2,900 jobs compared to January 2023, representing a 0.2% year-over-year growth.
  • Unemployment rate: Lower than January 2023’s 4.5%, indicating a tighter labor market.
  • Nonfarm wage and salary employment: Up by 25.5 jobs year-over-year, demonstrating positive economic momentum.

Compare to Previous Month:

  • Overall employment: Slightly decreased by 18 jobs from December 2023.
  • Unemployment rate: Remained unchanged from December 2023.
  • Nonfarm wage and salary employment: Grew by a meager 0.6 jobs compared to December 2023.

Future Outlook:

The short-term outlook for San Marcos’ job market appears cautiously optimistic. Continued development projects could fuel growth in construction and related industries. However, potential economic headwinds and ongoing national manufacturing challenges deserve monitoring.

10 Growing Occupations:

  1. Management occupations
  2. Registered nurses
  3. Retail salespersons
  4. Software developers and computer programmers
  5. Customer service representatives
  6. Truck drivers and heavy machine operators
  7. Marketing specialists
  8. Accountants and auditors
  9. Elementary and middle school teachers
  10. Physicians and surgeons

10 Companies Hiring Now:

  1. Amazon
  2. Palomar Health
  3. Walmart
  4. Home Depot
  5. Lowe’s
  6. Target
  7. FedEx
  8. UPS
  9. Starbucks
  10. McDonald’s

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