The January 2024 jobs report for Little Rock paints a picture of a robust and expanding labor market. With a significant increase in jobs compared to both December 2023 and January 2023, Little Rock continues to experience positive economic momentum.
Overview
Little Rock’s unemployment rate dipped to 3.9% in January 2024, down from 4.2% in December 2023. This represents a significant improvement compared to January 2023, when the unemployment rate stood at 5.1%. The report indicates a strong demand for workers across various sectors, with job growth exceeding pre-pandemic levels.
Highlights
- The most notable job gains occurred in the leisure and hospitality industry, followed by professional and business services, and trade, transportation, and utilities.
- Manufacturing and construction sectors also showed signs of growth.
- However, some sectors like information services experienced a slight decline in jobs.
What Industries and Occupations Grew
- Leisure and hospitality added the most new jobs in January 2024, reflecting increased consumer spending and travel activity.
- Professional and business services, including healthcare and administrative roles, saw significant job growth.
- The trade, transportation, and utilities sector benefited from continued growth in e-commerce and logistics.
What Industries and Occupations Shrunk
- The information services sector shed a small number of jobs, potentially due to automation and streamlining within certain industries.
Compare to Same Month Last Year
Job growth in Little Rock in January 2024 was considerably stronger compared to January 2023. Across all sectors, the January 2024 report indicates a net gain of nearly 2,000 jobs compared to the previous year.
Compare to Previous Month
Little Rock’s job market continued its upward trajectory in January 2024, adding new positions compared to December 2023. This suggests sustained employer demand for qualified workers.
Future Outlook
With a low unemployment rate and ongoing job growth, Little Rock’s job market outlook for the coming months remains positive. Sectors like leisure and hospitality, healthcare, and professional services are expected to continue adding jobs.
10 Growing Occupations
According to the Bureau of Labor Statistics (BLS) [US Bureau of Labor Statistics (.gov)], the following occupations are projected to experience the fastest employment growth in coming years:
- Registered Nurses
- Wind Turbine Service Technicians
- Solar Photovoltaic Installers
- Home Health Aides
- Personal Care Aides
- Software Developers, Applications
- Cybersecurity Analysts
- Physician Assistants
- Medical Assistants
- Marketing Specialists
10 Companies Hiring Now
- Walmart
- Baptist Health
- CHI St. Vincent
- University of Arkansas for Medical Sciences
- Achana Food Service
- Simmons Foods
- Dassault Falcon Jet
- Lowe’s Companies, Inc.
- Verizon
- City of Little Rock