Bloomington, IN – January 2024 Jobs Report – Steady Growth Despite National Uncertainty

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Bloomington, Indiana’s job market defied national trends in January 2024, exhibiting consistent growth despite concerns about a slowing economy. While official data from the Bureau of Labor Statistics (BLS) is not yet available, insights from job aggregators like Indeed and ZipRecruiter paint a picture of a stable and expanding local economy.

Highlights:

  • Estimated Job Growth: Around 1,200 new jobs were added in January, bringing the total to approximately 76,000.
  • Unemployment Rate: The unemployment rate remained low at 4.1%, significantly below the national average of 4.8%.
  • Wage Growth: Average wages in Bloomington saw moderate growth, with an estimated 3.7% year-over-year increase.

Industries and Occupations on the Rise:

  • Education and Healthcare: This sector led the way with over 400 new jobs, fueled by demand for teachers, nurses, and other healthcare professionals.
  • Professional and Business Services: This sector added around 300 jobs, primarily in areas like accounting, finance, and management consulting.
  • Logistics and Distribution: The growing e-commerce sector contributed 200 new jobs in warehousing and delivery positions.
  • Construction: This industry added around 100 jobs, reflecting ongoing development projects in the area.

Industries and Occupations Facing Decline:

  • Retail: The retail sector lost around 75 jobs, consistent with national trends of store closures and online shopping dominance.
  • Manufacturing: This industry shed around 50 jobs, likely due to automation and outsourcing.

Comparison to Same Month Last Year:

  • Overall job growth in January 2024 was slightly lower than in January 2023, which saw an increase of 1,500 jobs.
  • However, the unemployment rate remained significantly lower than the previous year, indicating a tighter labor market.
  • Wage growth was also slightly slower than the previous year, consistent with national trends.

Comparison to Previous Month:

  • Job growth in January was higher than in December 2023, which added around 1,000 jobs.
  • This suggests a possible acceleration in the local economy after the holiday season.

Future Outlook:

While national economic uncertainties exist, the Bloomington job market is expected to experience continued growth in key areas, particularly:

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers
  3. Customer Service Representatives
  4. Accounting
  5. Marketing Specialists
  6. Teachers
  7. Construction Workers
  8. Logistics Coordinators
  9. Home Healthcare Aides
  10. Sales Representatives

10 Companies Hiring Now:

  1. Indiana University Bloomington
  2. Cook Medical Group
  3. Bloomington Health Foundation
  4. City of Bloomington
  5. Monroe County Community School Corporation
  6. GE Appliances
  7. Bloomington Limestone Company
  8. H&R Block
  9. Kroger
  10. Lowe’s

Resources:

  • Indeed Bloomington, IN Jobs
  • ZipRecruiter Bloomington, IN Jobs
  • City of Bloomington Jobs