Bloomington’s job market continued its positive trajectory in December 2023, adding 1,200 jobs and pushing the unemployment rate down to a record low of 1.9%. This follows a strong year of job creation, with Bloomington exceeding its pre-pandemic employment levels by 2.5%.
Highlights:
- Professional and business services: The biggest job gains came in the professional and business services sector, adding 400 jobs, driven by growth in healthcare, management consulting, and engineering services.
- Trade, transportation, and utilities: This sector also saw robust job growth, adding 350 jobs, primarily in warehousing, trucking, and retail trade.
- Manufacturing: The manufacturing sector remained stable, adding 50 jobs, with continued strength in medical device and food processing industries.
- Low unemployment: The unemployment rate in Bloomington reached a record low of 1.9%, significantly lower than the national average of 3.5%.
What Industries and Occupations Grew:
- Professional and business services: Healthcare occupations like registered nurses, physician assistants, and medical technicians saw significant growth. Management consultants, software developers, and marketing specialists also experienced job gains.
- Trade, transportation, and utilities: Warehouse supervisors, truck drivers, and retail salespersons were among the occupations adding jobs in this sector.
- Manufacturing: Production workers in medical device and food processing plants saw job growth.
What Industries and Occupations Shrank:
- Mining, logging, and construction: This sector shed 50 jobs, primarily due to seasonal slowdowns in construction activity.
- Information: The information sector saw a decline of 20 jobs, with losses concentrated in data processing and telecommunications occupations.
Compare to Same Month Last Year:
Bloomington’s job market has grown significantly compared to December 2022, adding 2,500 jobs and experiencing a 0.8 percentage point decrease in the unemployment rate. This indicates a strong and sustained recovery from the pandemic’s economic impact.
Compare to Previous Month:
Job growth in December (1,200) was slightly lower than in November (1,500). However, the unemployment rate continued its downward trend, suggesting a healthy and stable labor market.
Future Outlook:
The outlook for Bloomington’s job market remains positive. Continued economic growth in the region, coupled with major infrastructure projects like the expansion of the Mall of America, is expected to drive further job creation in the coming months.
10 Growing Occupations in Bloomington:
- Registered Nurse
- Software Developer
- Truck Driver
- Warehouse Supervisor
- Physician Assistant
- Marketing Specialist
- Management Consultant
- Retail Salesperson
- Customer Service Representative
- Accountant
10 Companies Hiring Now in Bloomington:
- Medtronic
- Boston Scientific
- Target
- General Mills
- Amazon
- Xcel Energy
- Wells Fargo
- U.S. Bank
- Delta Airlines
- Mall of America
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