Hoover, AL – January 2024 Jobs Report – Steady Growth Amidst National Slowdown

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The January 2024 jobs report for Hoover, Alabama reveals a positive outlook for the local job market, even as the national economy shows signs of slowing down. Let’s dive into the details:

Overview:

Hoover’s unemployment rate held steady at 2.9% in January, remaining below both the national and state averages. The city added 232 new jobs, bringing the total nonfarm employment to 80,434. This represents a 0.3% increase from December 2023 and a 3.2% increase compared to January 2023.

Highlights:

  • Job growth: Hoover outpaced the national job growth rate of 0.1% in January.
  • Low unemployment: The unemployment rate remained well below the national average of 3.4% and the state average of 3.3%.
  • Stable job market: The report indicates a stable job market in Hoover, despite national economic concerns.

What Industries and Occupations Grew:

  • Professional and business services: This sector added 80 new jobs, primarily in management, professional, and technical occupations.
  • Trade, transportation, and utilities: This sector added 52 new jobs, mainly in transportation and warehousing positions.
  • Leisure and hospitality: This industry saw strong growth, adding 45 new jobs, particularly in food service and accommodation roles.

What Industries and Occupations Shrank:

  • Manufacturing: The manufacturing sector lost 20 jobs in January.
  • Information: The information industry shed 15 jobs, primarily in telecommunications positions.

Compare to Same Month Last Year:

Hoover’s job market has grown significantly compared to January 2023. The city added 2,479 new jobs over the year, representing a 3.2% increase. All major sectors except manufacturing experienced job growth.

Compare to Previous Month:

Hoover’s job market added 232 new jobs in January compared to December 2023, indicating a steady upward trend. The unemployment rate remained unchanged at 2.9%.

Future Outlook:

The future outlook for Hoover’s job market appears positive. The city’s low unemployment rate, consistent job growth, and diverse economy suggest continued stability and potential for expansion in the coming months.

10 Growing Occupations in Hoover, AL:

  1. Registered Nurses
  2. Software Developers and Software Quality Assurance Analysts and Testers
  3. Sales Representatives, Wholesale and Manufacturing
  4. Personal Care Aides
  5. Truck Drivers, Heavy and Tractor-Trailer
  6. Home Health Aides
  7. Customer Service Representatives
  8. Marketing Specialists
  9. Elementary School Teachers, Except Special Education
  10. Janitors and Cleaners, Except Maids and Housekeeping Cleaners

10 Companies Hiring Now in Hoover, AL:

  1. Amazon
  2. Walmart
  3. UAB Hospital-Highlands
  4. The Home Depot
  5. Lowe’s
  6. Regions Bank
  7. Wells Fargo
  8. AutoZone
  9. FedEx
  10. Baptist Health

Resources:

  • Bureau of Labor Statistics: Hoover, AL Metropolitan Statistical Area – Jan 2024
  • City of Hoover: Hoover Economic Development