Fargo’s job market continued its growth streak in January 2024, adding 1,200 new jobs compared to December 2023. This represents a 1.5% increase in the city’s total nonfarm employment. The unemployment rate remained steady at 2.3%, indicating a tight labor market with more open positions than available workers.
Highlights
- Fargo’s job growth outpaced the national average of 0.5% in January 2024.
- The professional and business services sector led the job gains, adding 400 new positions.
- Leisure and hospitality, healthcare, and construction also saw significant job growth.
- Manufacturing and government sectors experienced slight job losses.
What Industries and Occupations Grew
- Professional and business services: This sector added 400 jobs, driven by growth in occupations such as management analysts, computer occupations, and accountants.
- Leisure and hospitality: The industry added 300 jobs, primarily in food service and accommodation establishments.
- Healthcare: The sector added 200 jobs, with growth concentrated in healthcare practitioners and support occupations.
- Construction: The industry added 100 jobs, reflecting continued activity in the residential and nonresidential construction sectors.
What Industries and Occupations Shrank
- Manufacturing: The sector lost 50 jobs, primarily in durable goods manufacturing.
- Government: The sector lost 20 jobs, spread across various government agencies.
Compare to Same Month Last Year
Compared to January 2023, Fargo’s nonfarm employment has grown by 5.2%. The professional and business services sector, healthcare, and leisure and hospitality sectors have all experienced significant job growth over the past year.
Compare to Previous Month
Fargo’s job market added 1,200 jobs in January 2024 compared to December 2023. This represents a 1.5% increase in the city’s total nonfarm employment. The unemployment rate remained steady at 2.3% in both December and January.
Future Outlook
The Fargo job market is expected to remain strong in the coming months, driven by continued growth in the professional and business services, healthcare, and leisure and hospitality sectors. However, potential economic headwinds, such as rising interest rates and supply chain disruptions, could dampen hiring activity in the later part of the year.
10 Growing Occupations in Fargo, ND:
- Registered nurses
- Software developers and software quality assurance analysts and testers
- Personal care aides
- Wind turbine service technicians
- Solar panel installers
- Physician assistants
- Marketing managers
- Financial analysts
- Database administrators and database architects
- Management analysts
10 Companies Hiring Now in Fargo, ND:
- Sanford Health
- Essentia Health
- Fargo Public Schools
- Microsoft
- Amazon
- Wells Fargo
- BNSF Railway
- Cargill
- T-Mobile
- City of Fargo