Memphis, TN – January 2024 Job Market Report – Hiring Heats Up in Distribution and Warehousing

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The January 2024 jobs report for Memphis, TN, paints a picture of a growing and dynamic labor market. With a focus on distribution and warehousing, Memphis continues to solidify its position as a logistics hub in the Southeast.

Overview

The Memphis metropolitan area saw a positive uptick in jobs in January 2024. The unemployment rate remained steady at 4.2%, indicating a tight labor market with employers actively seeking qualified candidates.

Highlights

  • The distribution and warehousing sector continued its impressive growth trajectory, adding a significant number of new jobs in January.
  • Professional and business services also experienced job growth, reflecting the expanding Memphis economy.
  • Leisure and hospitality, while still recovering from pandemic lows, showed signs of improvement with a slight increase in jobs.

What Industries and Occupations Grew

  • Distribution and warehousing led the way in job growth, fueled by the continued rise of e-commerce and the strategic location of Memphis within the national shipping network.
  • Occupations in high demand within this sector include logistics specialists, order fillers, and warehouse supervisors.
  • The professional and business services sector also saw job growth, with particular demand for accountants, management analysts, and marketing specialists.

What Industries and Occupations Shrunk

  • The Memphis area saw a slight decline in jobs within the manufacturing sector, primarily concentrated in durable goods production.
  • Educational services also experienced a small decrease in jobs.

Compare to Same Month Last Year

Compared to January 2023, the Memphis job market has shown significant growth across various sectors. The distribution and warehousing industry continues to be a major driver of this expansion.

Compare to Previous Month

The January 2024 jobs report reflects a continuation of the positive trends observed in December 2023. The Memphis labor market remains stable with a low unemployment rate.

Future Outlook

The Memphis job market is expected to remain strong throughout 2024. The continued growth of e-commerce and the strategic location of the city are likely to fuel further expansion in the distribution and warehousing sector. Additionally, the professional and business services industry is projected to see continued job growth.

10 Growing Occupations

According to the Bureau of Labor Statistics, the following occupations are projected to experience the fastest job growth in Memphis over the next decade:

  1. Home health aides and personal care aides
  2. Solar photovoltaic installers
  3. Wind turbine service technicians
  4. Registered nurses
  5. Licensed practical nurses
  6. Database administrators and data base architects
  7. Software developers, applications
  8. Medical assistants
  9. Physician assistants
  10. Marketing specialists

10 Companies Hiring Now

Here are a few examples:

  1. FedEx
  2. Amazon
  3. St. Jude Children’s Research Hospital
  4. International Paper
  5. AutoZone
  6. Baptist Memorial Healthcare
  7. The Kroger Company
  8. ServiceMaster
  9. ALSAC/St. Jude Children’s Research Hospital
  10. Nike

Cited Resources

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