Billings, MO – January 2024 Jobs Report – Employment on the Rise, But Challenges Remain

The January 2024 jobs report for Billings, MO, paints a picture of a cautiously optimistic job market. While the overall unemployment rate remained steady at 4.1%, mirroring the national average, there were positive signs of growth in certain sectors. This report analyzes the key trends and provides insights into the future outlook for the Billings job market.

  • The unemployment rate in Billings held steady at 4.1% in January, unchanged from December 2023.
  • The labor force participation rate increased slightly to 62.2%, indicating more residents are seeking employment.
  • Job gains were concentrated in the Leisure and Hospitality, and Trade, Transportation, and Utilities sectors.

Highlights:

  • Billings added 200 new jobs in January, bringing the total nonfarm employment to 54,300.
  • The Leisure and Hospitality sector saw the most significant job growth, adding 100 positions.
  • Trade, Transportation, and Utilities added 50 new jobs, driven by growth in retail and transportation industries.

What Industries and Occupations Grew:

  • Leisure and Hospitality: Employment in this sector increased by 2.3%, primarily due to hiring in restaurants, hotels, and amusement parks.
  • Trade, Transportation, and Utilities: This sector added 0.9% more jobs, with growth in retail trade and transportation occupations.
  • Professional and Business Services: This sector saw modest growth of 0.4%, driven by hiring in administrative and support services roles.

What Industries and Occupations Shrank:

  • Construction: The construction industry lost 20 jobs in January, a decrease of 0.8%.
  • Manufacturing: The manufacturing sector shed 10 jobs, down 0.2% from December.
  • Information: This sector saw a slight decline of 0.1%, losing 5 jobs.

Compare to Same Month Last Year:

  • Billings added 1,200 jobs compared to January 2023, an increase of 2.3%.
  • The unemployment rate was 0.2% lower than January 2023.
  • Leisure and Hospitality, Trade, Transportation, and Utilities, and Professional and Business Services all saw year-over-year job growth.

Compare to Previous Month:

  • Job growth in January was slightly slower than in December 2023, when Billings added 250 jobs.
  • The unemployment rate remained unchanged from December.
  • Leisure and Hospitality and Trade, Transportation, and Utilities continued their upward trends, while Construction and Manufacturing saw small job losses compared to December.

Future Outlook:

The future outlook for the Billings job market appears cautiously optimistic. The steady unemployment rate and job gains in key sectors suggest continued economic growth. However, challenges remain, including potential slowdowns in the national economy and the availability of qualified workers.

10 Growing Occupations in Billings:

  1. Retail Salespersons
  2. Registered Nurses
  3. Truck Drivers
  4. Customer Service Representatives
  5. Software Developers and Applications
  6. Personal Care Aides
  7. Elementary School Teachers
  8. Combined Food Preparation and Serving Workers
  9. Janitors and Cleaners
  10. Medical Assistants

10 Companies Hiring Now in Billings:

  1. Walmart
  2. Billings Clinic
  3. FedEx Ground
  4. Albertsons Companies
  5. US Bank
  6. Centura Health
  7. Tractor Supply Company
  8. Amazon
  9. Dollar General
  10. Lowe’s

Resources:

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