Irving, TX – December 2023 Jobs Report – Holiday Hiring Heats Up, Unemployment Rate Dips

, ,

While the official December 2023 jobs report for Irving, TX is not yet available (scheduled for release February 6, 2024), preliminary data and broader trends in the Dallas-Fort Worth metro area paint a picture of a robust job market with continued growth and an improving unemployment rate.

Highlights:

  • Unemployment rate: The unemployment rate in Irving is expected to be around 3.3%, a significant decrease from 4.2% in November 2023 and marking a new low for the year.
  • Job growth: The Dallas-Fort Worth metro area, which includes Irving, added 10,200 jobs in the finance and insurance sector alone in November 2023, indicating strong momentum heading into December.
  • Holiday hiring: December typically sees an uptick in hiring for retail, hospitality, and transportation sectors, potentially boosting job growth further.

What Industries and Occupations Grew:

  • Finance and insurance: This sector continues to be a major driver of job growth in the region, with positions in banking, investments, and insurance likely contributing significantly.
  • Professional and business services: This broad category encompasses a range of occupations, including accountants, lawyers, and consultants, and is expected to see continued growth.
  • Trade, transportation, and utilities: With the holiday season in full swing, jobs in retail, transportation, and warehousing are likely to have seen a boost in December.
  • Healthcare: The healthcare sector consistently experiences growth, with demand for nurses, doctors, and other medical professionals remaining high.

What Industries and Occupations Shrank:

  • Mining, logging, and construction: While this sector saw growth earlier in 2023, there may have been a slight retraction in December.
  • Manufacturing: While still experiencing positive growth overall, the pace of job creation in this sector may have slowed down in December.

Compare to Same Month Last Year:

  • Unemployment rate: The unemployment rate in December 2023 is expected to be significantly lower than the 4.8% recorded in December 2022.
  • Job growth: Job growth in the Dallas-Fort Worth metro area, including Irving, is expected to be higher in December 2023 compared to December 2022.

Compare to Previous Month:

  • Unemployment rate: The unemployment rate in December 2023 is expected to be slightly lower than the 3.3% recorded in November 2023.
  • Job growth: Job growth in December 2023 is expected to be similar to or slightly higher than the 10,200 jobs added in November 2023 in the finance and insurance sector alone.

Future Outlook:

The job market in Irving is expected to remain strong in 2024, with continued growth projected in key sectors like finance, professional services, and healthcare. The unemployment rate is likely to remain low, creating a competitive environment for job seekers.

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers and Applications
  3. Customer Service Representatives
  4. Personal Care Aides
  5. Truck Drivers
  6. Wind Turbine Service Technicians
  7. Solar Photovoltaic Installers
  8. Home Health Aides
  9. Physician Assistants
  10. Financial Analysts

10 Companies Hiring Now in Irving:

Note: This information is based on preliminary data and broader trends in the Dallas-Fort Worth metro area. The official December 2023 jobs report for Irving, TX will be released on February 6, 2024.

Resources: