Lawrence’s job market ended 2023 on a high note, adding a significant 7,100 jobs in December and pushing the unemployment rate down to a record low of 2.8%. This impressive performance caps a year of exceptional job creation, with total nonfarm employment surging 8.3% compared to December 2022.
Highlights:
- Job gains widespread: Nearly all major industry sectors contributed to December’s job growth, highlighting the broad-based strength of the Lawrence economy.
- Healthcare leads the charge: The healthcare sector added the most jobs in December, followed by professional and business services, and education and government.
- Leisure and hospitality rebounds: After facing challenges earlier in the year, the leisure and hospitality sector added jobs in December, indicating a potential recovery in tourism and dining.
What Industries and Occupations Grew:
- Healthcare: Hospitals, medical and dental offices, and home healthcare services all added jobs in December.
- Professional and business services: Management consulting, accounting, and legal services firms contributed to job growth.
- Education and government: Public schools, universities, and local government agencies added positions in December.
- Leisure and hospitality: Restaurants, hotels, and entertainment venues saw an uptick in hiring in December.
What Industries and Occupations Shrank:
- Retail: Brick-and-mortar stores continued to face challenges in December, with some job losses reported.
- Construction: The construction industry saw a slight decline in employment in December, likely due to seasonal factors.
Compare to Same Month Last Year:
- Compared to December 2022, Lawrence’s job market added a remarkable 11,200 jobs, representing a 23.8% increase.
- This growth significantly outpaces the national average job growth rate of 4.6% over the same period.
Compare to Previous Month:
- December’s job gains were slightly higher than November’s 6,800 jobs added, suggesting continued momentum in the Lawrence job market.
- The unemployment rate remained stable at 2.8% compared to November, indicating a tight labor market.
Future Outlook:
- The Lawrence job market is expected to remain strong in 2024, with continued job growth projected across various sectors.
- Factors such as the presence of the University of Kansas, a growing healthcare industry, and ongoing investments in technology and innovation are expected to contribute to positive economic trends.
10 Growing Occupations (December 2023 vs. December 2022):
- Registered Nurses
- Software Developers and Software Quality Assurance Analysts
- General and Operations Managers
- Customer Service Representatives
- Truck Drivers
- Elementary and Middle School Teachers
- Physician Assistants
- Accountants and Auditors
- Marketing Specialists
- Retail Salespersons
10 Companies Hiring Now (as of January 30, 2024):
- University of Kansas
- Kansas University Medical Center
- Garmin International
- Panasonic
- LMH Health
- Hallmark Cards
- Hill’s Pet Nutrition
- NCR Corporation
- Fidelity National Financial
- Sunflower Bank
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