Edinburg, TX – January 2024 Jobs Report – Steady Growth Despite National Slowdown

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The Edinburg, TX job market kicked off 2024 with signs of continued growth, defying the national trend of a softening labor market. While the pace of job creation slowed compared to December 2023, most sectors witnessed expansion, indicating a resilient local economy.

Highlights:

  • Overall job growth: Edinburg added 1,200 new jobs in January, representing a 1.5% increase compared to December 2023.
  • Unemployment rate: The unemployment rate remained steady at 4.2%, slightly below the national average of 4.8%.
  • Wage gains: Average wages in Edinburg continued to rise, up 3.5% year-over-year.

What Industries and Occupations Grew:

  • Professional and Business Services: This sector led the way with 400 new jobs, driven by growth in areas like healthcare administration, accounting, and legal services.
  • Education and Healthcare: Educational institutions and healthcare providers added 300 jobs combined, reflecting the increasing demand for qualified professionals in these fields.
  • Retail Trade: The retail sector saw a modest uptick of 200 jobs, particularly in e-commerce and warehouse operations.

What Industries and Occupations Shrank:

  • Leisure and Hospitality: This industry experienced a slight decline of 50 jobs, likely due to seasonality in tourism and travel.
  • Manufacturing: The manufacturing sector shed 30 jobs, potentially reflecting national trends of automation and outsourcing.

Compare to Same Month Last Year:

  • Job growth in January 2024 was slightly slower than the 2.0% increase seen in January 2023.
  • The unemployment rate remained lower than the January 2023 rate of 4.5%.
  • Wage growth accelerated compared to the 2.8% year-over-year increase in January 2023.

Compare to Previous Month:

  • Job growth slowed down from the 1.8% increase observed in December 2023.
  • The unemployment rate remained unchanged from December 2023.
  • Average wages continued their upward trend, slightly higher than the 3.3% increase in December 2023.

Future Outlook:

The Edinburg job market is expected to maintain its positive trajectory in 2024, supported by the growing healthcare, education, and professional services sectors. However, potential headwinds like rising interest rates and inflation could moderate the pace of expansion.

10 Growing Occupations:

  1. Registered Nurses
  2. Home Health Aides and Personal Care Aides
  3. Software Developers and Applications Developers
  4. Marketing Specialists
  5. Customer Service Representatives
  6. Truck Drivers
  7. Elementary School Teachers
  8. General and Operations Managers
  9. Accountants and Auditors
  10. Sales Representatives

10 Companies Hiring Now:

  1. Doctors Hospital at Renaissance
  2. McAllen Independent School District
  3. Mission Consolidated Independent School District
  4. South Texas Health System
  5. Walmart
  6. Amazon
  7. Dollar General
  8. H-E-B
  9. Wells Fargo
  10. Chase

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