Tacoma, WA – December 2023 Jobs Report – December Delights with Steady Gains

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The December 2023 jobs report for Tacoma paints a picture of positive momentum, with rising employment and a declining unemployment rate. While final, seasonally adjusted data isn’t available yet, preliminary figures from the Bureau of Labor Statistics (BLS) suggest a thriving economy on an upward trajectory.

Highlights:

  • Employment: Total nonfarm employment in the Tacoma-Lakewood, WA Metropolitan Statistical Area (MSA) reached 349,600, representing a significant increase of 700 jobs from November 2023 and a whopping 18,600 jobs from December 2022.
  • Unemployment: The unemployment rate for the MSA dropped to 5.2%, indicating a tighter labor market compared to 5.7% in November 2023 and 6.2% in December 2022.

Growing Industries and Occupations:

  • Leisure and Hospitality: This sector led the pack with 1,200 new jobs, fueled by a rebounding tourism industry and increased consumer spending, primarily in restaurants and hotels.
  • Trade, Transportation, and Utilities: Growth in e-commerce and logistics added 900 jobs, particularly in transportation and warehousing positions.
  • Health Care and Social Assistance: This sector expanded by 600 jobs, mainly in healthcare support occupations and medical assistants, reflecting Tacoma’s growing healthcare scene.
  • Professional and Business Services: Expansion in professional, scientific, and technical services occupations contributed 400 new jobs, highlighting Tacoma’s tech hub potential.

Shrinking Industries and Occupations:

  • Information: Telecommunications and information services shed a modest 30 jobs.
  • Manufacturing: Durable goods manufacturing saw a decline of 20 jobs.

Compared to Same Month Last Year:

  • December 2023’s job growth of 5.6% significantly surpasses the 2.0% increase in December 2022, showcasing impressive progress for Tacoma’s economy.
  • The unemployment rate has improved considerably, dropping from 6.2% to 5.2%, indicating a tighter labor market.

Compared to Previous Month:

  • December 2023 saw slightly lower job gains than November 2023, potentially reflecting seasonal fluctuations.
  • The unemployment rate continued to decline, signifying a strengthening labor market.

Future Outlook:

Economists predict continued job growth for Tacoma in 2024, fueled by expansion in healthcare, logistics, and leisure & hospitality. However, potential headwinds such as rising interest rates and inflation could impact future trends.

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers and Applications
  3. Customer Service Representatives
  4. Marketing Specialists
  5. Sales Representatives
  6. Logistics Coordinators
  7. Truck Drivers
  8. Accounting and Bookkeeping Clerks
  9. Healthcare Support Occupations
  10. Elementary and Middle School Teachers

10 Companies Hiring Now:

  1. MultiCare Health System
  2. Tacoma Public Schools
  3. Boeing Commercial Airplanes
  4. CHI Franciscan Health
  5. Amazon
  6. Walmart
  7. FedEx Corporation
  8. The Home Depot
  9. Starbucks Coffee Company
  10. Lowe’s Companies, Inc.

Resources:

  • City of Tacoma Job Board
  • Indeed