Tallahassee, FL – December 2023 Jobs Report – Mixed Signals, Unsettled Waters

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December 2023 delivered a complex picture for Tallahassee’s job market. While the unemployment rate held steady, job losses outpaced gains, raising concerns about the market’s stability. Specific sectors offered bright spots, suggesting potential avenues for job seekers, but overall cautious optimism is warranted.

Highlights:

  • Stable, Yet Concerning, Unemployment: At 3.0%, the unemployment rate stayed unchanged, indicating neither widespread joblessness nor an abundance of unfilled positions. However, this stability masks the decrease in the labor force, raising questions about overall market health.
  • Job Losses Cast a Shadow: The nonfarm job count lost 1,151 positions compared to November, highlighting a significant slowdown in hiring activity and raising concerns about economic momentum.
  • Education & Healthcare Offer Hope: These sectors added 15 and 5 jobs respectively, potentially reflecting expansion in schools, healthcare providers, and social services.

What Industries and Occupations Grew:

  • Education and Health Services: This industry gained 15 jobs, potentially tied to growth in schools, healthcare institutions, and social services.
  • Professional and Business Services: This sector added 5 jobs, encompassing areas like finance, consulting, and technology.
  • Leisure and Hospitality: This industry also saw minor job growth, potentially reflecting seasonal tourism fluctuations.

What Industries and Occupations Shrank:

  • Retail Trade: This sector lost 80 jobs, likely due to ongoing challenges in brick-and-mortar retail or post-holiday adjustments.
  • Government: This industry shed 50 jobs, which could be attributed to various factors within the public sector.
  • Manufacturing: This sector also lost 40 jobs, highlighting potential national trends or industry-specific challenges.

Compare to Same Month Last Year:

  • Unemployment rate: Up slightly from 2.3% in December 2022, showcasing a minor deterioration in the labor market.
  • Nonfarm job growth: Significantly lower than the 4,366 jobs added in December 2022, reflecting a substantial decline in job creation.

Compare to Previous Month:

  • Unemployment rate: Remained unchanged compared to November 2023, indicating a stable but potentially concerning level.
  • Nonfarm job growth: Decreased dramatically from the 85 jobs added in November 2023, highlighting a pronounced slowdown in hiring.

Future Outlook:

Economists express cautious optimism for Tallahassee’s job market in 2024. The stable unemployment rate, despite job losses, suggests potential resilience. However, headwinds like national economic concerns and inflation could create uncertainty. Education, healthcare, and professional services might offer opportunities, while broader factors could impact the overall outlook.

10 Growing Occupations in Tallahassee, FL:

  1. Registered Nurses
  2. Customer Service Representatives
  3. Sales Representatives
  4. Software Developers and Applications Developers
  5. Marketing Specialists
  6. Teachers
  7. Accountants and Auditors
  8. Construction Laborers
  9. Nursing Assistants
  10. Truck Drivers

10 Companies Hiring Now in Tallahassee, FL:

  1. Florida State University
  2. Tallahassee Memorial Healthcare
  3. Leon County Public Schools
  4. Publix Super Markets
  5. City of Tallahassee
  6. Walmart
  7. Lowe’s
  8. The Home Depot
  9. Amazon
  10. Capital City Bank

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