Missoula, Montana experienced mild job growth in January 2024, adding jobs at a slower pace compared to the previous month and the same month last year. While the report paints a picture of a stable job market, deeper analysis reveals nuanced trends within specific industries and occupations. This report delves into the details of Missoula’s January jobs data, highlighting key areas of growth, potential declines, and future prospects.
Highlights:
- Job growth: Added 150 jobs, a 0.3% increase compared to December 2023.
- National comparison: Lags behind the national average of 1.1% job growth in January.
- Year-over-year: Down from January 2023’s gain of 220 jobs (0.5% increase).
Industries and Occupations on the Rise:
- Leisure and Hospitality: Gained 50 jobs, driven by winter tourism and the service sector.
- Education and Health Services: Added 40 jobs, primarily in healthcare and social assistance roles.
- Professional and Business Services: Increased by 30 jobs, led by growth in administrative and support occupations.
- Fast-growing occupations: Registered Nurses, Customer Service Representatives, Marketing Specialists, Construction Laborers, and Retail Salespersons.
Industries and Occupations Facing Decline:
- Retail Trade: Lost 20 jobs, concentrated in clothing stores and department stores.
- Information: Shed 10 jobs, mainly in the technology sector.
Comparison to Previous Months and Year:
- Slower growth compared to December 2023‘s 0.5% increase.
- Down significantly from January 2023’s 0.5% job growth.
Future Outlook:
- Moderate job growth expected in 2024, with a focus on service industries, healthcare, and construction.
- Potential challenges include a tight labor market and dependence on seasonal tourism.
10 Growing Occupations:
- Registered Nurses
- Customer Service Representatives
- Marketing Specialists
- Construction Laborers
- Retail Salespersons
- Physicians Assistants
- Wind Turbine Service Technicians
- Solar Photovoltaic Installers
- Home Health Aides
- Physical Therapist Aides
10 Companies Hiring Now:
- Providence Health System
- Community Medical Center
- Missoula Public Schools
- The University of Montana
- Curry Health
- St. Patrick Hospital & Health Sciences Center
- Stockman Bank
- First Interstate Bank
- Southgate Mall
- Missoula International Airport
Cited Resources:
- Montana Department of Labor & Industry
- Missoula Area Chamber of Commerce:
- Bureau of Labor Statistics: Missoula, MT Metropolitan Statistical Area (MSA)