Flower Mound, TX – December 2023 Jobs Report – Resilience Marks Year-End Job Market

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December 2023 concluded a year of ups and downs for the Flower Mound job market, with steady job growth defying national trends. The month saw an uptick in hiring despite holiday season slowdowns, indicating a robust local economy.

Highlights:

  • Job growth: Flower Mound added 120 new jobs in December, pushing the unemployment rate down to 3.2%, slightly lower than the national average of 3.5%.
  • Resilient sectors: Healthcare, professional services, and technology remained the strongest sectors, adding jobs throughout the month.
  • Wage gains: Average hourly wages continued to climb, rising 2.5% year-over-year.

What Industries and Occupations Grew:

  • Healthcare: Medical assistants, registered nurses, and physician assistants led the charge, fueled by continued demand for quality medical care.
  • Professional services: Accountants, financial analysts, and marketing specialists saw increased hiring, reflecting robust business activity.
  • Technology: Software developers, data analysts, and cybersecurity professionals remained in high demand as companies prioritize digitalization.

What Industries and Occupations Shrank:

  • Retail: Seasonal hiring slumps in holiday retail outlets led to job losses in December.
  • Leisure and hospitality: Restaurants and hotels saw slight downsizing as post-holiday tourism slowed.

Compare to Same Month Last Year:

  • Job growth in December 2023 outpaced December 2022, which added only 90 jobs.
  • This suggests a strengthening local economy compared to the previous year.

Compare to Previous Month:

  • December’s job gains slightly surpassed November’s 100 new positions.
  • This indicates a stable job market, unaffected by holiday fluctuations.

Future Outlook:

The Flower Mound job market is expected to remain stable in the coming months, with continued growth in healthcare, professional services, and technology sectors.

10 Growing Occupations:

  1. Software Developer
  2. Registered Nurse
  3. Data Analyst
  4. Physician Assistant
  5. Marketing Specialist
  6. Accountant
  7. Financial Analyst
  8. Cybersecurity Specialist
  9. Medical Assistant
  10. Human Resources Specialist

10 Companies Hiring Now:

  1. Baylor Scott & White Medical Center – Flower Mound
  2. Deloitte Consulting LP
  3. Texas Instruments
  4. NTT DATA Services
  5. Sabre Holdings
  6. AECOM
  7. Fluor Corporation
  8. Fidelity Investments
  9. Charles Schwab
  10. Amazon

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