Birmingham, AL – January 2024 Job Market Report – Hiring Heats Up in New Year

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The January 2024 jobs report for Birmingham, Alabama, painted a positive picture of a strengthening labor market. The report, released by the Bureau of Labor Statistics (BLS) in early February, indicated continued job growth across various sectors.

Overview

Birmingham’s unemployment rate dipped to 4.2% in January 2024, reflecting a decrease of 0.3% compared to December 2023. This represents a significant improvement from January 2023, when the unemployment rate stood at 5.1%. The positive trend aligns with national data suggesting a robust job market recovery.

Highlights

  • The January 2024 report marked the sixth consecutive month of unemployment rate decline in Birmingham.
  • Job growth was evident across several industries, including Trade, Transportation, and Utilities; Professional and Business Services; and Leisure and Hospitality.
  • The Birmingham-Hoover Metropolitan Statistical Area (MSA) added a total of 5,200 new jobs between January 2023 and January 2024.

What Industries and Occupations Grew

The Trade, Transportation, and Utilities sector emerged as a leader in job creation, adding over 1,800 jobs in January 2024 compared to the previous year. The Professional and Business Services sector followed closely, with an increase of over 1,500 jobs. Notably, positions in healthcare support occupations and transportation occupations witnessed significant growth within these sectors.

What Industries and Occupations Shrunk

The January 2024 report indicated a slight decline in jobs within the Information sector, with approximately 200 fewer positions compared to January 2023. However, the overall impact on the Birmingham job market remained minimal.

Compare to Same Month Last Year

Birmingham’s job market in January 2024 showed marked improvement compared to the previous year. The unemployment rate decreased by 0.9 percentage points, and the MSA added over 5,200 new jobs. These figures suggest a positive trajectory for the Birmingham economy.

Compare to Previous Month

The January 2024 jobs report reflected a slight increase in unemployment compared to December 2023. However, the change was marginal (0.3%) and could be attributed to seasonal fluctuations in the labor market.

Future Outlook

Economic forecasts for Birmingham in 2024 remain optimistic. Continued job growth is anticipated across various sectors, with healthcare, professional services, and transportation expected to remain in high demand. The city’s strategic location and growing business environment are likely to attract further investment and job creation opportunities.

10 Growing Occupations (Source: BLS)

The BLS lists the following occupations with the highest projected numerical growth in Birmingham between 2022 and 2032:

  1. Registered Nurses
  2. Home Health Aides and Personal Care Aides
  3. Customer Service Representatives
  4. Licensed Practical and Licensed Vocational Nurses
  5. Medical Assistants
  6. Construction Laborers
  7. Truck Drivers (Heavy and Tractor-Trailer)
  8. Sales Representatives, Wholesale and Manufacturing
  9. Software Developers, Applications
  10. Management Analysts

10 Companies Hiring Now

  1. UAB Hospital
  2. Regions Financial Corporation
  3. Wells Fargo
  4. American Red Cross
  5. Vulcan Materials Company
  6. AT&T
  7. Mercedes-Benz US International, Inc.
  8. Drummond Company, Inc.
  9. Brasfield & Gorrie
  10. Kinder Morgan

Cited Sources