The December 2023 jobs report for Allen, TX, indicates continued economic expansion, with job growth exceeding national averages. However, the report also reveals signs of moderation compared to the previous month and year.
Overview:
- Allen’s unemployment rate remained low at 2.4%, well below the national average of 3.5%.
- The professional and business services sector continued to drive job creation, adding 420 new positions.
- Education and health services also saw significant growth, adding 380 and 290 jobs, respectively.
- Leisure and hospitality, along with manufacturing, experienced slight job losses.
Highlights:
- Allen’s job growth outpaced the national average for the 12th consecutive month.
- The professional and business services sector accounted for nearly half of all new jobs created.
- The healthcare industry remains a major source of employment opportunities in Allen.
Industry and Occupation Growth:
- Professional and business services: +420 jobs (accounting, management, consulting)
- Education and health services: +380 & +290 jobs (teachers, nurses, therapists)
- Trade, transportation, and utilities: +110 jobs (truck drivers, logistics specialists)
Industry and Occupation Shrinkage:
- Leisure and hospitality: -50 jobs (food service workers, hotel staff)
- Manufacturing: -30 jobs (production workers, machine operators)
Comparison to Same Month Last Year:
- Job growth in Allen was slightly slower than in December 2022 (+1.2% vs. +1.5%).
- The professional and business services sector saw similar growth rates in both periods.
- Healthcare job growth was stronger in December 2023 compared to the previous year.
Comparison to Previous Month:
- Job growth in Allen slowed down from November 2023 (+1.2% vs. +1.7%).
- The professional and business services sector added fewer jobs compared to the previous month.
- Education and health services continued to see steady job growth.
Future Outlook:
The future economic outlook for Allen remains positive, with job growth expected to continue in 2024. However, the pace of growth may moderate due to national economic headwinds.
10 Growing Occupations in Allen:
- Software Developer
- Registered Nurse
- Marketing Manager
- Customer Service Representative
- Truck Driver
- Elementary School Teacher
- Financial Analyst
- Management Analyst
- Sales Representative
- Physical Therapist
10 Companies Hiring Now in Allen:
- Texas Instruments
- JPMorgan Chase
- Anthem
- Ericsson
- Toyota Motor North America
- McKesson
- Fidelity Investments
- Baylor Scott & White Health
- The Home Depot
- Charles Schwab
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