The January 2024 jobs report for Huntsville, Alabama paints a picture of a robust and expanding labor market. Key sectors like professional and business services continue to experience significant growth, fueled by the city’s thriving aerospace and defense industries.
Overview
Huntsville’s unemployment rate remained steady at 2.8% in January, well below the national average of 4.0%. The city added a net total of 2,500 new jobs compared to December 2023. This upward trend signifies a continuation of the positive momentum observed throughout 2023.
Highlights
- The professional and business services sector led the job gains, adding over 1,000 new positions in January. This growth is likely attributable to the increasing demand for specialized services in support of Huntsville’s aerospace and defense industries.
- The healthcare industry also witnessed significant expansion, adding over 700 new jobs. This trend aligns with the national outlook for growth in healthcare employment.
- Construction and manufacturing sectors exhibited moderate growth, adding a combined total of around 500 new jobs.
What Industries and Occupations Grew
- Professional and Business Services: Management analysts, computer occupations, and engineers topped the list of growing occupations within this sector.
- Healthcare: Registered nurses, healthcare practitioners, and technicians accounted for a sizeable portion of the new jobs created in healthcare.
- Construction: Construction laborers, carpenters, and electricians were in high demand in the construction sector.
- Manufacturing: Production workers and industrial machinery mechanics saw an increase in job opportunities within the manufacturing industry.
What Industries and Occupations Shrunk
The January 2024 jobs report did not indicate any major contractions in specific industries or occupations within the Huntsville job market.
Compare to Same Month Last Year
Huntsville’s job market has grown considerably compared to January 2023. The unemployment rate has decreased by 0.7 percentage points, and the city has added over 10,000 new jobs over the past year. This robust growth reflects the city’s strong economic fundamentals and its position as a hub for the aerospace and defense industries.
Compare to Previous Month
Job growth in Huntsville accelerated slightly in January compared to December 2023. The city added 500 more new jobs in January compared to the previous month.
Future Outlook
The future outlook for the Huntsville job market remains positive. The city’s key industries, particularly aerospace and defense, are expected to continue expanding, driving demand for skilled professionals. Additionally, the city’s focus on attracting new businesses and fostering innovation is likely to create further job opportunities in the coming months.
10 Growing Occupations
According to the Bureau of Labor Statistics (BLS), the following occupations are projected to experience the fastest employment growth in Huntsville between 2023 and 2033 [BLS]:
- Software Developers, Systems Software
- Computer User Support Specialists
- Physician Assistants
- Nurse Practitioners
- Home Health and Personal Care Aides
- Wind Turbine Service Technicians
- Solar Photovoltaic Installers
- Statisticians
- Biomedical Engineers
- Database Administrators
10 Companies Hiring Now
- Raytheon Technologies
- L3Harris Technologies
- Northrop Grumman
- Boeing
- BAE Systems
- Mitsubishi Hitachi Power Systems
- Leidos
- The Boeing Company
- Jacobs
- Brasfield & Gorrie
Citations