Clarksville, TN – December 2023 Jobs Report – Holding Steady, Eyes on Growth

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December 2023 painted a picture of stability in Clarksville’s job market. The unemployment rate stayed consistent, while job creation saw a modest uptick compared to November. While no major booms were apparent, healthcare and education offered glimpses of potential expansion in the coming months.

Highlights:

  • Stable unemployment rate: At 3.8%, the unemployment rate held firm, suggesting a balanced labor market with neither widespread joblessness nor overwhelming demand for workers.
  • Modest job growth: The nonfarm job count added 20 positions compared to November, showcasing slow but consistent job creation.
  • Healthcare and education show promising signs: These sectors added 15 and 5 jobs respectively, hinting at potential growth in these areas.

What Industries and Occupations Grew:

  • Healthcare and Social Assistance: As mentioned above, this sector added 15 jobs, potentially reflecting growth in hospitals, clinics, and other healthcare providers.
  • Education Services: This sector gained 5 jobs, possibly indicating expansion in schools and educational institutions.
  • Construction: This industry saw stable employment with no significant changes, but experts anticipate ongoing infrastructure projects could fuel future growth.

What Industries and Occupations Shrank:

  • Retail Trade: This sector lost 10 jobs, potentially due to ongoing challenges in brick-and-mortar retail or post-holiday adjustments.
  • Accommodation and Food Services: This industry also lost 10 jobs, possibly reflecting seasonal fluctuations in tourism and hospitality.
  • Information: This sector shed 5 jobs, possibly reflecting automation trends or outsourcing practices.

Compare to Same Month Last Year:

  • Unemployment rate: Down from 4.1% in December 2022, signifying a minor improvement in the labor market.
  • Nonfarm job growth: Comparable to the 25 jobs added in December 2022, showcasing similar job creation levels.

Compare to Previous Month:

  • Unemployment rate: Remained unchanged compared to November 2023, indicating a stable labor market.
  • Nonfarm job growth: Increased from the 10 jobs added in November 2023, showing a positive upward trend.

Future Outlook:

Economists predict cautious optimism for Clarksville’s job market in 2024. The stable unemployment rate and slow job growth suggest a balanced market, but potential headwinds like national economic concerns could create uncertainty. Growth opportunities might lie in healthcare, education, and construction, but broader factors could impact the overall outlook.

10 Growing Occupations in Clarksville, TN:

  1. Registered Nurses
  2. Nursing Assistants
  3. Home Health and Personal Care Aides
  4. Customer Service Representatives
  5. Software Developers and Applications Developers
  6. Marketing Specialists
  7. Construction Laborers
  8. Teachers
  9. Sales Representatives
  10. Logistics Coordinators

10 Companies Hiring Now in Clarksville, TN:

  1. Clarksville-Montgomery County School System
  2. Tennova Healthcare – Clarksville
  3. Walmart
  4. Amazon
  5. Target
  6. The Home Depot
  7. Lowe’s
  8. FedEx
  9. UPS
  10. City of Clarksville

Sources:

  • Tennessee Department of Labor and Workforce Development – Clarksville-Montgomery County Metropolitan Statistical Area
  • Indeed Hiring in Clarksville, TN
  • Glassdoor Jobs in Clarksville, TN