January 29, 2024

Bloomington, IL – December 2023 Jobs Report – Mixed Signal for a Midwestern Metro

Bloomington, Illinois, closed out 2023 with a slight decline in employment, shedding 300 jobs in December, representing a 0.31% dip compared to November. This comes amidst a mixed bag of statewide performance, with Illinois adding 1,600 jobs overall. While not a dramatic loss, the trend raises questions about the metro’s resilience in the face of broader economic uncertainties.

Highlights:

Healthcare and Leisure & Hospitality saw modest growth, adding 100 and 50 jobs respectively, demonstrating continued demand in these sectors.
Manufacturing and Professional & Business Services declined, losing 200 and 100 jobs respectively, hinting at potential headwinds in these key industries.
The unemployment rate held steady at 4.8%, reflecting a stable but sluggish labor market.

What Industries and Occupations Grew:

Healthcare: Registered nurses, nursing assistants, and home health aides were among the leading gainers, driven by an aging population and increasing healthcare needs.
Leisure & Hospitality: Cooks, waiters and waitresses, and food preparation workers saw modest job growth, fueled by the holiday season and ongoing consumer spending.

What Industries and Occupations Shrank:

Manufacturing: Production workers, machine operators, and assemblers faced job losses, potentially linked to supply chain disruptions and global economic challenges.
Professional & Business Services: Management analysts, accountants, and marketing specialists saw reduced employment, possibly reflecting cost-cutting measures and business realignment.

Compare to Same Month Last Year:

Compared to December 2022, Bloomington added 400 jobs, indicating a more optimistic picture over the long term. This suggests some progress in pandemic recovery, even amidst recent stumbles.

Compare to Previous Month:

Following a gain of 50 jobs in November 2023, the December decline marks a reversal of the positive trend, raising concerns about future stability.

Future Outlook:

The Bloomington job market faces a mixture of headwinds and tailwinds. Ongoing supply chain issues and global economic uncertainties pose challenges, while a growing healthcare sector and continued consumer spending offer potential bright spots. The coming months will reveal whether the December dip was a temporary blip or a sign of deeper troubles.

10 Growing Occupations in Bloomington, IL:

10 Companies Hiring Now in Bloomington, IL:

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