O’Fallon, MO – January 2024 Jobs Report – Steady Expansion Amidst National Slowdown

O’Fallon’s job market defied the national trend of decelerating employment growth in January 2024, maintaining a steady pace of expansion. While the overall rate cooled slightly compared to December, key industries continued to add jobs, and unemployment remained low.

Highlights:

  • Unemployment rate: 3.2%, the lowest level since April 2023.
  • Non-farm payroll employment: Increased by 100 jobs, following a gain of 150 in December.
  • Leading industries: Professional and business services (+50 jobs), healthcare and social assistance (+40 jobs).
  • Slight declines: Trade, transportation, and utilities (-20 jobs), leisure and hospitality (-10 jobs).

What Industries and Occupations Grew:

  • Professional and business services: Growth primarily in professional, scientific, and technical services (+30 jobs) and management, administrative, and waste management occupations (+20 jobs).
  • Healthcare and social assistance: Expansion driven by hiring in ambulatory healthcare services (+20 jobs) and hospitals (+15 jobs).
  • Other notable gainers: Construction (+10 jobs), manufacturing (+5 jobs).

What Industries and Occupations Shrank:

Compare to Same Month Last Year:

  • O’Fallon’s job market outperformed the national average. The city added 1.4% jobs year-over-year compared to the U.S. average of 1.1%.
  • Professional and business services, healthcare and social assistance, and manufacturing showed stronger year-over-year growth in O’Fallon compared to the nation.

Compare to Previous Month:

  • The pace of job growth slowed slightly compared to December 2023, which saw an increase of 150 jobs.
  • However, the unemployment rate remained unchanged, indicating continued strong demand for labor.

Future Outlook:

  • The future outlook for O’Fallon’s job market remains positive. The city’s growing population, diverse economy, and proximity to St. Louis are expected to continue to attract businesses and create job opportunities.
  • However, national economic uncertainties and potential interest rate hikes could present challenges in the coming months.

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers and Software Quality Assurance Analysts
  3. Sales Representatives
  4. Customer Service Representatives
  5. Truck Drivers
  6. Construction Laborers
  7. Personal Care Aides
  8. Home Health Aides
  9. Marketing Specialists
  10. Accountants and Auditors

10 Companies Hiring Now:

  1. BJC HealthCare
  2. Emerson
  3. World Wide Technology
  4. Centene Corporation
  5. Edward Jones
  6. Express Scripts
  7. Nestle Purina PetCare
  8. Boeing
  9. Anheuser-Busch InBev
  10. Ameren Corporation

Resources: