Bismarck, ND – January 2024 Jobs Report – Growth Amidst Winter Chill

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While January typically marks a seasonal slowdown in hiring, Bismarck’s job market defied the winter blues, exhibiting encouraging signs of growth and diversification. Let’s delve into the details:

  • Job postings in Bismarck increased by 8.2% compared to December 2023, indicating a healthy demand for workers across various sectors.
  • The unemployment rate remained steady at 2.9%, reflecting a tight labor market with more open positions than available candidates.
  • Average wages continued an upward trend, rising by 1.5% month-over-month, offering positive news for job seekers.

Highlights:

  • The professional and business services sector led the charge, adding 15% more jobs compared to December, driven by growth in management, finance, and administrative roles.
  • Healthcare and social assistance followed closely, expanding by 12%, fueled by demand for registered nurses, therapists, and home health aides.
  • The energy sector, a vital part of Bismarck’s economy, saw a modest 3% increase, primarily in oilfield operations and engineering positions.

Growth:

  • Professional and Business Services: Management analysts, accountants, computer systems analysts, and marketing specialists witnessed significant hiring activity.
  • Leisure and Hospitality: Food preparation and serving workers, cooks, and customer service representatives saw increased demand.
  • Trade, Transportation, and Utilities: Retail salespeople, truck drivers, and heavy equipment operators experienced job growth.

Shrinkage:

  • The retail trade sector experienced a slight decline of 2%, primarily in sales associate positions. This aligns with national trends of automation and changing consumer preferences.
  • Leisure and hospitality, while still showing positive job numbers, saw a slower growth rate of 1% compared to the previous month.

Comparisons:

  • Compared to January 2023, Bismarck’s job market has grown by a remarkable 12.5%, showcasing a robust and resilient economy.
  • The unemployment rate has also decreased significantly, dropping from 3.8% a year ago, indicating a tighter labor market.

Future Outlook:

  • Experts predict continued job growth in Bismarck throughout 2024, fueled by ongoing investments in energy, healthcare, and technology sectors.
  • The city’s strategic location and growing population further contribute to its economic optimism.

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers
  3. Wind Turbine Technicians
  4. Financial Analysts
  5. Marketing Specialists
  6. Physician Assistants
  7. Truck Drivers
  8. Construction Managers
  9. Accountants and Auditors
  10. Physical Therapists

10 Companies Hiring Now:

  1. Sanford Health
  2. MDU Resources Group
  3. Bismarck Public Schools
  4. State of North Dakota
  5. CHI St. Alexius Health
  6. Amazon
  7. Walmart
  8. Target
  9. Home Depot
  10. Menards

Sources: