The December 2023 jobs report for Fort Worth presents a tale of two cities within the Texas powerhouse. While job growth continued, exceeding the previous year’s figures, specific sectors experienced fluctuations highlighting a complex economic landscape. Adaptability and informed decision-making remain crucial for both job seekers and employers navigating this dynamic environment.
Key Points:
- Unemployment dips again: At 3.3%, the unemployment rate indicates a competitive job market for qualified applicants.
- Job growth surpasses December 2022: Adding 3,000 net new positions, nonfarm employment reached 764,300, marking a positive year-over-year increase. This surpasses the state and national average growth rates.
- Trade, Transportation & Utilities leads the charge: This sector added 1,000 jobs, potentially indicating expansion in logistics, transportation, and utilities. Sales representatives, transportation workers, and logistics specialists could find opportunities.
Industry and Occupation Insights:
- Growth: Trade, Transportation & Utilities (+1,000), Professional & Business Services (+500), Education & Health Services (+400). Potential opportunities exist in: sales representatives, transportation workers, logistics specialists, marketing specialists, accountants, customer service representatives, nurses, teachers.
- Shrinks: Leisure & Hospitality (-200), Information (-100). Declines in these sectors, particularly tech, raise questions about their future trajectories.
Historical Comparisons:
- Improvement over December 2022: Lower unemployment rate (3.3% vs. 3.6%) signifies a slight improvement in the labor market.
- Stronger growth than December 2022: Higher job growth (3,000 jobs vs. 1,800 jobs) compared to the previous year, outperforming state and national trends.
Future Outlook:
The outlook remains cautiously optimistic. The low unemployment rate and growth in key sectors suggest potential resilience. However, national economic uncertainties and specific industry fluctuations warrant close monitoring. Upskilling in emerging fields like clean energy, healthcare, and logistics could be advantageous for navigating potential shifts.
10 Growing Occupations in Fort Worth, TX:
- Registered Nurses
- Software Developers and Applications Developers
- Sales Representatives
- Marketing Specialists
- Customer Service Representatives
- Physicians
- Accountants
- Logistics Specialists
- Truck Drivers
- Teachers
10 Companies Hiring Now in Fort Worth, TX:
- Lockheed Martin
- American Airlines
- BNSF Railway
- Texas Health Resources
- Bank of America
- Wells Fargo
- JPMorgan Chase
- Fort Worth ISD
- Baylor Scott
- General Motors
Sources:
- Bureau of Labor Statistics – Dallas-Fort Worth-Arlington, TX MSA
- Texas Workforce Commission – Local Area Labor Market Information
- Indeed Hiring in Fort Worth, TX
- Glassdoor Jobs in Fort Worth, TX