January 2024 painted a positive picture for San Mateo’s job market, echoing the wider Bay Area trend of significant employment gains. While specific data for San Mateo is limited, broader regional insights offer valuable context.
Highlights:
- The Bay Area added a remarkable 10,600 jobs in December 2023, marking the third consecutive month of growth and capping off a turbulent 2023 (Mercury News).
- This surge accounted for nearly half of all jobs created in California last month, demonstrating the region’s economic resilience (Mercury News).
- Sectors like technology, despite recent layoffs, still showed signs of expansion, indicating a diversified local economy (Joint Venture Silicon Valley).
What Industries and Occupations Grew:
- Professional and business services, education and health services, and leisure and hospitality saw the biggest gains (Mercury News).
- Specific occupations witnessing growth include software developers, nurses, customer service representatives, and salespersons (Bureau of Labor Statistics).
What Industries and Occupations Shrank:
- Although specific data for San Mateo is unavailable, some industries across the Bay Area experienced job losses in December, such as financial activities and information (Mercury News).
- Occupations with projected decline include cashiers, retail salespeople, and administrative assistants (Bureau of Labor Statistics).
Compare to Same Month Last Year:
Direct year-over-year comparisons for San Mateo are unavailable. However, the Bay Area as a whole added 35,900 jobs in December 2023 compared to December 2022, showcasing significant improvement (EDD CA).
Compare to Previous Month:
Building on November 2023’s gains of 6,300 jobs, December’s performance reflects continued momentum in the Bay Area’s job market (EDD CA).
Future Outlook:
Experts anticipate the Bay Area’s job market to maintain its upward trajectory in 2024, fueled by the region’s diverse economy and ongoing innovation (Joint Venture Silicon Valley). However, potential economic headwinds and ongoing tech industry adjustments could introduce uncertainty (Mercury News).
10 Growing Occupations in the Bay Area (BLS Projections):
- Software Developers, Applications and Systems
- Wind Turbine Service Technicians
- Home Health and Personal Care Aides
- Solar Photovoltaic Installers
- Medical and Clinical Laboratory Technicians
- Physician Assistants
- Nurse Practitioners
- Cybersecurity Analysts
- Physical Therapist Assistants
- Occupational Therapists
10 Companies Hiring Now in San Mateo (Indeed):
- Notable Health
- Backblaze
- Siemens Healthineers
- GoPro
- Peloton Interactive
- Roche Diagnostics
- Gilead Sciences
- Visa Inc.
- Xoom Corporation
- Intuit
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