Bloomington, MN – January 2024 Jobs Report – Steady Growth Fueled by Innovation and Services

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Bloomington’s job market kicked off 2024 with positive momentum, adding jobs and exceeding pre-pandemic levels. While the January report shows a slight slowdown compared to December 2023, it paints a picture of a resilient and promising market for the year ahead.

Highlights:

  • Job growth: Bloomington added 0.5% new jobs compared to December 2023, translating to roughly 200 positions.
  • Strongest sectors: Professional & Business Services (+0.8%) and Trade, Transportation & Utilities (+0.7%) led the charge, highlighting the key role these industries play in the local economy.
  • Manufacturing remains stable: Manufacturing held steady (+0.1%), indicating continued strength in this vital sector.

Industries and Occupations on the Rise:

  • Professional & Business Services: Management Analysts, Marketing Specialists, and Software Developers & Applications Developers saw job gains, reflecting the growing demand for skilled professionals in these areas.
  • Healthcare & Social Assistance: Registered Nurses and Nursing Assistants saw modest increases, driven by the aging population’s need for healthcare services.

Industries and Occupations Facing Challenges:

  • Information: The Information sector saw a minor decrease (-0.1%), with occupations like Computer Programmers experiencing slight reductions.
  • Leisure & Hospitality: This sector experienced a seasonal dip (-0.4%), likely due to the post-holiday period. However, the upcoming tourism season may bring a rebound.

Year-over-Year Comparison:

Compared to January 2023, the Bloomington job market has grown by 2.5%, adding approximately 1,000 new jobs. This indicates a significant recovery and surpasses pre-pandemic employment levels.

Month-over-Month Comparison:

While job growth slowed down slightly compared to December 2023, the overall trend remains positive. The January report suggests a stable and resilient job market in Bloomington, particularly in sectors like professional services, logistics, and healthcare.

Future Outlook:

The Bloomington job market is expected to see continued growth in 2024, with key areas of expansion including:

  • Technology: Continued investment in innovation and digital transformation will create opportunities in software development, cybersecurity, and data analytics.
  • Healthcare: The aging population and increasing demand for medical services will continue to drive job creation in this sector, particularly for nurses, therapists, and home healthcare workers.
  • Logistics & Transportation: Bloomington’s strategic location and growing e-commerce activity will fuel further growth in this sector.

Top 10 Growing Occupations in Bloomington, MN (January 2024):

  1. Registered Nurses
  2. Management Analysts
  3. Marketing Specialists
  4. Software Developers  
  5. Warehouse Workers
  6. Transportation Security Specialists
  7. Customer Service Representatives
  8. Sales Representatives
  9. Physician Assistants
  10. Computer Systems Analysts

Top 10 Companies Hiring Now in Bloomington, MN (February 2024):

  1. Medtronic
  2. Mall of America
  3. Optum Serve
  4. Fairview Health Services
  5. Wells Fargo
  6. Target Corporation
  7. General Mills
  8. UnitedHealth Group
  9. Bloomington Public Schools
  10. Amazon

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