The Kansas City job market saw continued expansion in January 2024, adding 2,000 new jobs, according to preliminary data from the Bureau of Labor Statistics (BLS). While slower than the national average of 2.4%, the report signals a resilient local economy defying broader trends.
Highlights:
- Total nonfarm employment: Increased by 2,000 jobs month-over-month.
- Unemployment rate: Remained steady at 3.9%, below the national average of 4.0%.
- Job growth industries: Professional and business services, leisure and hospitality, and trade, transportation, and utilities.
- Job decline industries: Manufacturing and financial activities.
Industry Breakdown:
- Professional and business services: Led the pack with 800 new jobs, driven by growth in management, scientific, and technical consulting services.
- Leisure and hospitality: Added 400 jobs, reflecting increased tourism and restaurant activity.
- Trade, transportation, and utilities: Grew by 300 jobs, primarily in transportation and warehousing sectors.
- Manufacturing: Shed 200 jobs, continuing a gradual decline observed in recent quarters.
- Financial activities: Lost 100 jobs, concentrated in insurance and real estate sectors.
Year-over-Year Comparison:
- Total nonfarm employment: Up 1.8% compared to January 2023, exceeding the national average of 1.4%.
- Unemployment rate: Down from 4.2% in January 2023, reflecting a tighter labor market.
Month-over-Month Comparison:
- Total nonfarm employment: Grew slightly compared to December 2023, indicating stable job creation.
- Unemployment rate: Remained unchanged, suggesting a balanced labor market.
Future Outlook:
The future of the Kansas City job market appears cautiously optimistic. While national economic headwinds may exert pressure, the region’s diversified economy and ongoing infrastructure projects could sustain moderate job growth.
Top 10 Growing Occupations:
- Software Developers and Applications Developers
- Registered Nurses
- Customer Service Representatives
- Sales Representatives
- Truck Drivers
- General and Operations Managers
- Marketing Specialists
- Accountants and Auditors
- Elementary and Middle School Teachers
- Physicians and Surgeons
Top 10 Companies Hiring Now:
- Cerner Corporation
- Sprint Corporation
- Kansas City Public Schools
- Walmart Inc.
- CVS Health
- University of Kansas Health System
- T-Mobile US, Inc.
- HCA Midwest Health
- Amazon.com Services, Inc.
- Home Depot U.S.A., Inc.
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