Killeen, TX – December 2023 Jobs Report – Steady Growth Amidst National Shifts

, ,

The Killeen-Temple metropolitan area’s job market ended 2023 on a positive note, exhibiting stability and modest growth. While national headlines swirled with concerns about potential recession, Killeen saw continued expansion in key sectors, demonstrating the area’s unique economic resilience.

Overview:

  • Unemployment rate: 3.8% (preliminary estimate) – a decrease from 5.0% in December 2022 and below the national rate of 3.7%.
  • Job growth: 0.6% over the month and 4.5% year-over-year.
  • Key industries contributing to growth: Professional & Business Services, Education & Health Services, and Trade, Transportation & Utilities.

Highlights:

  • Killeen boasts a lower unemployment rate than both the state and national averages, signifying a tight labor market.
  • Job gains were spread across various industries, reflecting a diversified economy.
  • Despite national economic uncertainties, Killeen’s job market displayed resilience and adaptability.

Industry and Occupation Trends:

Growth:

Shrinkage:

  • Leisure & Hospitality: Lost 100 jobs, mainly in accommodation and food service industries.
  • Manufacturing: Declined by 50 jobs, reflecting national trends in automation and offshoring.
  • Shinking Occupations: Cashiers, Fast Food Cooks, Waiters & Waitresses, Production Workers, Laborers.

Comparisons:

  • Year-over-year: Killeen’s job growth outpaced both the state (3.8%) and national (2.2%) averages.
  • Month-over-month: Job gains were slightly lower than November 2023 (0.8%), but remained positive.

Future Outlook:

  • The Killeen-Temple economy is expected to maintain its growth trajectory in 2024, supported by the continued presence of Fort Hood and ongoing investments in healthcare and education.
  • However, potential headwinds like national economic slowdown and rising interest rates could dampen expansion.

10 Growing Occupations:

  1. Software Developers
  2. Registered Nurses
  3. Customer Service Representatives
  4. Truck Drivers
  5. Logistics Coordinators
  6. Physical Therapists
  7. Financial Analysts
  8. Marketing Specialists
  9. Cybersecurity Specialists
  10. Medical Assistants

10 Companies Hiring Now:

  1. Baylor Scott & White
  2. Killeen Independent School District
  3. City of Killeen
  4. Wegmans
  5. Lowe’s
  6. Walmart
  7. Amazon
  8. Dell
  9. HEB
  10. USAA

Resources: