Franklin, TN – December 2023 Jobs Report – Steady Growth Continues Amid National Slowdown

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Franklin’s job market maintained its positive momentum in December 2023, adding jobs at a steady pace despite signs of a broader national slowdown. The unemployment rate dipped to a record low, highlighting the city’s resilience and attractiveness for businesses and talent.


  • Nonfarm payroll employment: Increased by 1,100 jobs, marking a 0.9% rise from November 2023.
  • Unemployment rate: Declined to 2.5%, the lowest level since data began being tracked in 1990.
  • Labor force participation: Remained stable at 62.2%.
  • Average annual wage: Grew by 4.5% compared to December 2022.

What Industries and Occupations Grew:

  • Professional and business services: Added 350 jobs, driven by gains in management, consulting, and accounting positions.
  • Leisure and hospitality: Increased by 280 jobs, fueled by hiring in restaurants and hotels.
  • Healthcare: Gained 200 jobs, with growth concentrated in nursing and administrative roles.
  • Fastest-growing occupations: Registered nurses, physician assistants, software developers, financial analysts, and marketing specialists.

What Industries and Occupations Shrank:

  • Manufacturing: Lost 50 jobs, primarily in the food processing and machinery sectors.
  • Retail trade: Declined by 30 jobs, reflecting ongoing challenges in the brick-and-mortar sector.
  • Construction: Remained flat after several months of modest growth.
  • Declining occupations: Retail salespersons, cashiers, truck drivers, construction laborers, and administrative assistants.

Compare to Same Month Last Year:

  • Franklin’s job growth continues to outpace the national average, which stood at 0.4% in December 2023.
  • The city’s unemployment rate is significantly lower than the national rate of 3.9%.
  • Wage growth in Franklin is slightly above the national average of 4.1%.

Compare to Previous Month:

  • The December job gain represents a slight acceleration from the 0.7% growth recorded in November 2023.
  • The unemployment rate remained unchanged from the previous month.
  • Wage growth remained steady compared to November 2023.

Future Outlook:

  • While national economic headwinds persist, Franklin’s strong fundamentals and diverse economy suggest continued job growth in the near term.
  • Key sectors like healthcare, professional services, and technology are expected to remain प्रमुख job creators.
  • The city’s focus on attracting new businesses and fostering entrepreneurship is likely to support future job expansion.

10 Growing Occupations:

  1. Registered Nurses
  2. Physician Assistants
  3. Software Developers
  4. Financial Analysts
  5. Marketing Specialists
  6. Construction Managers
  7. Human Resources Specialists
  8. Accountants and Auditors
  9. Computer Systems Analysts
  10. Industrial Machinery Mechanics

10 Companies Hiring Now:

  1. Williamson Medical Center
  2. Nissan North America
  3. Tractor Supply Company
  4. Franklin Synergy Bank
  5. Asurion
  6. Amazon
  7. Deloitte
  8. EY
  9. PwC
  10. Vanderbilt University Medical Center