Scranton’s job market maintained its positive momentum in January 2024, adding jobs for the third consecutive month. The unemployment rate held steady at 3.8%, indicating a tight labor market with more open positions than available workers. While growth wasn’t as robust as December, key sectors showed promising signs, particularly healthcare and education.
Highlights:
- Job growth: Scranton added 420 jobs in January, bringing the total gain since December 2023 to 1,250.
- Unemployment rate: Remained unchanged at 3.8%, reflecting a competitive job market for both employers and job seekers.
- Wage growth: Average hourly wages increased by 2.5% compared to January 2023.
What Industries and Occupations Grew:
- Healthcare: Added 150 jobs, driven by demand for registered nurses, home health aides, and therapists.
- Education: Grew by 80 jobs, primarily in K-12 and higher education institutions.
- Professional and Business Services: Increased by 60 jobs, with positions in management, consulting, and technical fields seeing the most growth.
- Retail Trade: Added 40 jobs, mainly in restaurants and food services.
What Industries and Occupations Shrank:
- Manufacturing: Lost 30 jobs, continuing a slow decline in the sector.
- Leisure and Hospitality: Shed 20 jobs, primarily in accommodation and entertainment venues.
Compare to Same Month Last Year:
- Job growth in January 2024 was slightly slower than January 2023, which saw an increase of 580 jobs.
- However, the unemployment rate remains lower than January 2023, which was 4.2%.
Compare to Previous Month:
- Job growth was lower than December 2023, which added 630 positions.
- The unemployment rate remained unchanged from December 2023.
Future Outlook:
The Scranton job market is expected to remain stable in the coming months, with moderate job growth projected in healthcare, education, and professional services. However, potential economic headwinds and industry-specific challenges could impact hiring trends.
10 Growing Occupations (Scranton, PA – January 2024):
- Registered Nurse
- Home Health Aide
- Software Developer
- Physical Therapist
- Elementary School Teacher
- Management Analyst
- Customer Service Representative
- Marketing Specialist
- Truck Driver
- Construction Laborer
10 Companies Hiring Now (Scranton, PA – February 2024):
- Geisinger
- Commonwealth Home Health and Hospice
- The Scranton Area School District
- Marywood University
- Gentex Corporation
- Tobyhanna Army Depot
- Scranton Lackawanna Human Resource Development Agency
- PNC Bank
- The University of Scranton
- Wegmans
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