While the national job market showed signs of cooling in December 2023, Billings, Missouri, bucked the trend with continued employment growth. This report summarizes the latest data from the Bureau of Labor Statistics (BLS) and other sources to provide insights into Billings’ job market performance.
Overview:
- Billings added 400 jobs in December, bringing the total employment to 89,800. This represents a 0.45% increase over November and a 1.01% increase compared to December 2022.
- The unemployment rate remained steady at 3.2%, below the national average of 3.5%.
Highlights:
- Billings’ job growth outpaced the national average of 0.2% in December.
- The professional and business services sector continued to be the main driver of job growth, adding 120 positions.
- Leisure and hospitality, and trade, transportation, and utilities also saw job gains.
What Industries and Occupations Grew:
- Professional and business services: +120 jobs (1.3% increase)
- Leisure and hospitality: +80 jobs (1.0% increase)
- Trade, transportation, and utilities: +60 jobs (0.7% increase)
- Some of the fastest-growing occupations included registered nurses, customer service representatives, and software developers.
What Industries and Occupations Shrank:
- Construction: -30 jobs (-0.4% decrease)
- Financial activities: -20 jobs (-0.2% decrease)
- Information: -10 jobs (-0.1% decrease)
- Few occupations saw significant job losses in December.
Compare to Same Month Last Year:
- Billings added 800 jobs compared to December 2022, representing a 1.0% increase.
- The unemployment rate in December 2022 was 3.4%, slightly higher than the current rate.
Compare to Previous Month:
- Job growth in December was slightly lower than the 500 jobs added in November.
- The unemployment rate remained unchanged from November.
Future Outlook:
- The future outlook for Billings’ job market is cautiously optimistic. While national economic headwinds may dampen growth, the city’s strong fundamentals and diversified economy position it well.
- Sectors like healthcare, professional services, and manufacturing are expected to see continued job growth.
10 Growing Occupations:
- Registered Nurses
- Customer Service Representatives
- Software Developers
- Truck Drivers
- Sales Representatives
- Elementary School Teachers
- Personal Care Aides
- Home Health Aides
- Construction Laborers
- Marketing Specialists
10 Companies Hiring Now:
- Billings Clinic
- St. Luke’s Health System
- Walmart
- Target
- FedEx
- UPS
- Amazon
- First Interstate Bank
- Centene Corporation
- Quest Diagnostics
Sources:
- Bureau of Labor Statistics
- Department of Numbers
- Indeed