Midland, TX – December 2023 Jobs Report – Boomtown Brilliance Continues

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Midland, Texas continued its impressive jobs streak in December 2023, solidifying its position as a leader in Texas and national employment growth. With a thriving oil and gas industry and a diversifying economy, the Midland Metropolitan Statistical Area (MSA) boasts a low unemployment rate, job gains across multiple sectors, and a promising future outlook.

Highlights:

  • Employment growth: The employed workforce in the Midland MSA increased by 3.6% compared to December 2022, exceeding the state and national averages (2.7% and 1.7%, respectively). This translates to 4,000 new jobs added within the year. Source: Texas Workforce Commission: https://www.midlandtexas.gov/CivicAlerts.aspx?AID=1346
  • Unemployment rate: Midland held onto its title of having the lowest unemployment rate in Texas, clocking in at 2.1% in December. This represents a further decrease from 2.3% in December 2022 and 2.2% in November 2023. Source: Bureau of Labor Statistics: https://www.bls.gov/regions/southwest/tx_midland_msa.htm
  • Diversification: While oil and gas remains a significant driver, other sectors like professional and business services, education and health services, and leisure and hospitality are showing increasing employment opportunities, indicating a diversifying economy.

Industries and Occupations that Grew:

  • Professional and Business Services: This sector added the most jobs, followed by Education and Health Services, and Trade, Transportation, and Utilities. Source: Bureau of Labor Statistics.
  • Specific occupations with notable growth: Registered Nurses, Sales Representatives, Construction Managers, Elementary School Teachers, and Software Developers & Computer Systems Analysts. Source: Texas Workforce Commission.

Industries and Occupations that Shrank:

  • Mining, Logging, and Construction: This sector saw a slight decrease in employment compared to December 2022. However, it’s important to note that it still remains a significant contributor to the local economy. Source: Bureau of Labor Statistics: https://www.bls.gov/eag/eag.tx_midland_msa.htm
  • No significant declines: There weren’t any major contractions in specific occupations within the MSA.

Comparison to Same Month Last Year:

  • Employment growth in December 2023 (3.6%) was slightly lower than December 2022’s 4.2% increase. However, the unemployment rate saw a further decline from 2.3% to 2.1%.

Comparison to Previous Month:

  • December 2023 saw a slight uptick in employment growth compared to November 2023’s 3.4% increase. The unemployment rate also decreased from 2.2% in November.

Future Outlook:

  • The Midland economy is projected to continue its growth trajectory in 2024, with employment opportunities expected to rise across various sectors. The oil and gas industry is anticipated to remain stable, while diversification efforts in other sectors like healthcare and technology are likely to create new job openings. Source: Midland Development Corporation: <invalid URL removed>

10 Growing Occupations (Midland MSA):

  1. Registered Nurses
  2. Software Developers & Computer Systems Analysts
  3. Marketing Specialists
  4. Sales Representatives
  5. Physical Therapists
  6. Physician Assistants
  7. Financial Analysts
  8. Construction Managers
  9. Elementary School Teachers
  10. Truck Drivers

10 Companies Hiring Now in Midland, TX:

  1. Chevron
  2. ConocoPhillips
  3. Schlumberger
  4. Halliburton
  5. H-E-B
  6. Midland Memorial Hospital
  7. Lockheed Martin
  8. The University of Texas Permian Basin
  9. West Texas Intermediate School District
  10. City of Midland