Seattle, WA – January 2024 Job Market Report – Hiring Spree Continues

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The January 2024 jobs report for Seattle paints a robust picture of a metro area experiencing continued economic growth. With unemployment rates at record lows, Seattle employers added a significant number of new jobs across various industries. This report dives into the details of Seattle’s job market, highlighting key trends and providing insights for job seekers and employers alike.

Overview

Seattle’s job market remained strong in January 2024. The unemployment rate dipped to 2.9%, marking the lowest level since data collection began. This indicates a highly competitive labor market where employers are vying for a limited pool of qualified candidates. Job growth was widespread, with most sectors adding new positions.

Highlights

  • The unemployment rate fell to 2.9%, the lowest ever recorded in Seattle.
  • Job growth was positive across most sectors, with particularly strong gains in professional and business services, leisure and hospitality, and construction.
  • Tech giants like Amazon and Microsoft continue to fuel the local economy, but growth is diversifying across other industries as well.

What Industries and Occupations Grew

  • Professional and business services: This sector added the most new jobs in January, driven by growth in areas like management consulting, accounting, and engineering services.
  • Leisure and hospitality: As travel restrictions eased and consumer confidence rose, restaurants, hotels, and other hospitality businesses added a significant number of new positions.
  • Construction: Buoyed by strong demand for housing and infrastructure projects, the construction industry saw steady job growth in January.

What Industries and Occupations Shrunk

There were minimal job losses reported across most industries in Seattle. Some educational and healthcare institutions reported slight employment declines, but these were attributed to seasonal adjustments.

Compare to Same Month Last Year

Compared to January 2023, Seattle’s job market has grown considerably. The unemployment rate has decreased by 1.2 percentage points, and job growth has been particularly strong in professional services, construction, and healthcare.

Compare to Previous Month

Seattle’s job market continued its upward trajectory from December 2023. The unemployment rate remained steady at 2.9%, and job growth continued across most sectors.

Future Outlook

The future outlook for Seattle’s job market remains positive. With a booming tech industry, a diversified economic base, and continued infrastructure investments, Seattle is expected to see sustained job growth in the coming months.

10 Growing Occupations

According to the Bureau of Labor Statistics (BLS), the following occupations are projected to experience the fastest employment growth in Seattle over the next decade:

  1. Software Developers and Programmers
  2. Physician Assistants
  3. Solar Photovoltaic Installers
  4. Wind Turbine Service Technicians
  5. Home Health Aides
  6. Database Administrators
  7. Registered Nurses
  8. Marketing Managers
  9. Biomedical Engineers
  10. Mental Health Counselors

10 Companies Hiring Now

Here are a few examples:

  1. Amazon
  2. Microsoft
  3. Boeing
  4. Starbucks
  5. Costco Wholesale
  6. Providence Health System
  7. Expedia Group
  8. T-Mobile US
  9. Zumiez
  10. REI

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