Tampa, FL – January 2024 Job Market Report – Sunshine Still Shines on Job Seekers

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Overview

The Tampa Bay job market kicked off 2024 on a positive note, continuing the growth trend observed throughout much of 2023. This report analyzes key data points from January 2024, providing insights for both job seekers and employers in the Tampa Bay area.

Highlights

  • The unemployment rate remained steady at a low 3.2%, indicating a tight labor market.
  • Job growth was concentrated in professional and business services, healthcare, and leisure and hospitality sectors.
  • While some industries experienced minor contractions, the overall job market outlook remains optimistic for 2024.

What Industries and Occupations Grew

  • Professional and Business Services: This sector saw significant growth, particularly in areas like management consulting, accounting, and IT services.
  • Healthcare: Demand for healthcare professionals remained high, with growth in nursing, medical technician, and therapist positions.
  • Leisure and Hospitality: As tourism continues to rebound in Tampa Bay, hotels, restaurants, and entertainment venues added jobs in January.

What Industries and Occupations Shrunk

  • Manufacturing: The manufacturing sector saw a slight decline in jobs, concentrated primarily in durable goods production.
  • Retail Trade: Similar to national trends, brick-and-mortar retail experienced some job losses, likely due to the continued growth of e-commerce.

Compare to Same Month Last Year

Compared to January 2023, the Tampa Bay job market has shown continued growth. The unemployment rate is down from 3.8%, and job creation is spread across various sectors.

Compare to Previous Month

Job growth in January 2024 was slightly higher than December 2023, indicating a positive start to the new year.

Future Outlook

Economic forecasts for the Tampa Bay region remain positive, with continued job growth expected throughout 2024. The construction industry is anticipated to pick up steam, while the healthcare sector is projected to add new jobs due to an aging population.

10 Growing Occupations (Source: Bureau of Labor Statistics [bls.org])

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

10 Companies Hiring Now

  1. Tampa General Hospital
  2. Moffitt Cancer Center
  3. HCA Healthcare
  4. Publix Super Markets
  5. Raymond James Financial
  6. Jabil
  7. Lockheed Martin
  8. University of South Florida
  9. Port Tampa Bay
  10. City of Tampa