In December 2023, Abilene’s job market displayed continued stability, maintaining a low unemployment rate and experiencing slight job growth in certain sectors. While some industries shed positions, others gained, reflecting a nuanced economic picture.
Highlights:
- Unemployment rate: Steady at 2.9%, marking the lowest December rate since the data started being collected in 2000. (Source: Bureau of Labor Statistics)
- Job growth: Nonfarm employment edged up by 0.2% compared to November, adding roughly 150 jobs. (Source: Bureau of Labor Statistics)
- Key growth sectors: Trade, Transportation, and Utilities added 100 jobs, followed by Professional and Business Services with 50 new positions. (Source: Bureau of Labor Statistics)
Industry and Occupation Changes:
Grew:
- Trade, Transportation, and Utilities: Up 100 jobs, likely fueled by holiday retail and logistics activity.
- Professional and Business Services: Gained 50 jobs, potentially reflecting increased demand for administrative and technical support.
- Education and Health Services: Added 20 jobs, indicating steady hiring in healthcare and education sectors.
Shrank:
- Leisure and Hospitality: Lost 50 jobs, possibly due to the end of the peak tourist season.
- Government: Shed 20 positions, with potential reasons including budget constraints or seasonal variations.
- Manufacturing: Remained flat, highlighting ongoing stability in the sector.
Compared to the Same Month Last Year:
- Unemployment rate: Significantly lower than December 2022’s 3.5%, showcasing a tighter labor market.
- Job growth: Nonfarm employment rose by 1.4% year-over-year, indicating moderate job creation.
Compared to the Previous Month:
- Unemployment rate: Remained unchanged from November.
- Job growth: Slightly higher than November’s 0.1% increase, suggesting a modest uptick in hiring activity.
Future Outlook:
- Experts forecast continued economic growth for Abilene in 2024, with potential job gains in healthcare, professional services, and manufacturing.
- However, rising interest rates and inflation could pose challenges, impacting hiring decisions in some sectors.
10 Growing Occupations in Abilene (December 2023):
- Registered Nurses
- Personal Care Aides
- Retail Salespersons
- Customer Service Representatives
- Truck Drivers
- Software Developers and Applications Developers
- Accountants and Auditors
- Elementary School Teachers
- Marketing Specialists
- Physicians and Surgeons
10 Companies Hiring Now in Abilene (as of February 10, 2024):
- Hendrick Health System
- Abilene Independent School District
- Walmart
- City of Abilene
- United States Postal Service
- Schlumberger
- Tyson Foods
- H-E-B
- Wells Fargo
- Lowe’s Companies, Inc.
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