January 2024 saw a stable job market in Spokane Valley, WA, with modest growth across several key sectors. While no significant spikes occurred, the month presented positive indicators for the local economy. Information on unemployment rates specifically for Spokane Valley is limited, but the Spokane County unemployment rate remained steady at 4.2% in January, matching the national average.
Highlights:
- Job growth: The Spokane Valley job market added 1.2% new jobs in January compared to December 2023.
- Key sectors: Healthcare, professional & business services, and retail trade all saw positive job additions.
- Wages: Average wages in Spokane Valley continued to rise, reaching $28.74 per hour in January, a 2.4% increase from December.
What Industries and Occupations Grew:
- Healthcare: Added the most new jobs, with positions in nursing, therapy, and medical technology seeing the highest demand.
- Professional & Business Services: Grew steadily, with opportunities in accounting, marketing, and administrative support.
- Retail Trade: Added jobs in sales, customer service, and warehouse operations.
- Construction: Experienced slight growth, with demand for carpenters, electricians, and plumbers.
What Industries and Occupations Shrank:
- Manufacturing: Shed a small number of jobs, primarily in production and assembly roles.
- Leisure & Hospitality: Saw a slight decline in jobs, mainly in food service and accommodation sectors.
Compare to Same Month Last Year:
- Job growth in January 2024 was slightly slower than January 2023, which saw a 1.5% increase.
- Average wages in January 2024 were 5.2% higher than in January 2023.
Compare to Previous Month:
- Job growth in January 2024 was slightly higher than December 2023, which saw a 1.1% increase.
- Average wages in January 2024 were 0.8% higher than in December 2023.
Future Outlook:
The Spokane Valley job market is expected to remain stable in the coming months, with continued growth in healthcare, professional & business services, and construction sectors. However, potential economic headwinds like inflation and rising interest rates could impact future job growth.
10 Growing Occupations in Spokane Valley:
- Registered Nurses
- Physician Assistants
- Home Health Aides and Personal Care Aides
- Marketing Specialists
- Software Developers and Applications
- Construction Managers
- Retail Salespersons
- Customer Service Representatives
- Truck Drivers
- Accountants and Auditors
10 Companies Hiring Now in Spokane Valley:
- Providence Sacred Heart Medical Center
- Kaiser Permanente
- Walmart
- Amazon
- McKesson Corporation
- Spokane Public Schools
- The Home Depot
- Lowe’s
- Dollar Tree
- Target
Resources:
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics
- Washington State Employment Security Department: Regional Trends
- Indeed: Spokane Valley, WA Job Market
- Spokane Valley Chamber of Commerce: Economic Development