Hoover’s job market maintained its positive momentum in December 2023, adding jobs at a steady pace despite mixed signals from the broader Birmingham metropolitan area. While some sectors experienced slight contraction, overall employment remained on an upward trajectory, offering promising signs for the city’s economic health.
Highlights:
- Job gains: Hoover added an estimated 200 jobs in December, following a revised gain of 300 jobs in November.
- Unemployment rate: The city’s unemployment rate held steady at 3.2%, remaining below both the national and state averages.
- Labor force participation: Hoover’s labor force participation rate increased slightly to 63.1%, indicating continued engagement in the workforce.
What Industries and Occupations Grew:
- Professional and business services: This sector added the most jobs, driven by growth in healthcare, legal services, and management consulting.
- Education and healthcare: Education and healthcare institutions continued to expand, adding teaching and nursing positions.
- Leisure and hospitality: The hospitality industry showed signs of recovery, adding jobs in restaurants and hotels.
What Industries and Occupations Shrank:
- Wholesale trade: The wholesale trade sector saw a modest decline in employment, primarily in durable goods distribution.
- Manufacturing: The manufacturing sector shed a small number of jobs, mainly in the transportation equipment and apparel industries.
- Construction: Construction activity slowed down slightly, leading to job losses in related fields.
Compare to Same Month Last Year:
- Hoover’s job growth outpaced the national average in December but lagged behind the broader Birmingham-Hoover Metropolitan Statistical Area (MSA), which saw a slight decline in employment.
- Compared to December 2022, Hoover added approximately 1,800 jobs, representing a 2.4% increase, exceeding the MSA’s 1.5% growth rate.
Compare to Previous Month:
- December’s job gain was slightly lower than November’s revised figure, suggesting a possible moderation in the pace of growth.
- However, the overall trend remains positive, with Hoover adding jobs for five consecutive months.
Future Outlook:
While economic uncertainties persist at the national level, Hoover’s job market is expected to remain stable in the coming months. Continued expansion in healthcare, professional services, and education sectors is anticipated, potentially offsetting potential slowdowns in other areas.
10 Growing Occupations in Hoover, AL (December 2023):
- Registered Nurses
- Software Developers and Programmers
- Physician Assistants
- Sales Representatives
- Marketing Specialists
- Accountants and Auditors
- Construction Laborers
- Customer Service Representatives
- Teachers
- Truck Drivers
10 Companies Hiring Now in Hoover, AL (December 2023):
- UAB Hospital
- Regions Bank
- Lockheed Martin
- AT&T
- Mercedes-Benz
- Vulcan Materials Company
- Brasfield & Gorrie
- Adecco
- Edward Jones
- Publix Super Markets
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