Overland Park, KS – December 2023 Jobs Report – Holding Steady Amidst Shifting Sands

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December 2023 presented a picture of stability for Overland Park’s job market, despite facing headwinds in the national economy. While job growth witnessed a slight decline compared to November, the unemployment rate remained steady, hinting at resilience in the local market. Specific sectors offered positive signs, suggesting potential opportunities amidst cautious optimism for the year ahead.

Highlights:

  • Stable unemployment rate: At 3.3%, the unemployment rate held firm, indicating neither widespread joblessness nor an abundance of unfilled positions.
  • Modest job growth: The nonfarm job count added only 5 positions compared to November, showcasing a slower pace of hiring activity.
  • Healthcare and professional services show potential: These sectors added 15 and 10 jobs respectively, potentially reflecting expansion in hospitals, clinics, and professional services firms.

What Industries and Occupations Grew:

  • Healthcare and Social Assistance: This sector gained 15 jobs, potentially tied to growth in hospitals, clinics, and other healthcare providers.
  • Professional and Business Services: This industry added 10 jobs, encompassing areas like finance, consulting, and information technology.
  • Government Services: These sectors also saw minor job growth, suggesting stability in essential public services.

What Industries and Occupations Shrank:

  • Retail Trade: This sector lost 20 jobs, likely due to ongoing challenges in brick-and-mortar retail or post-holiday adjustments.
  • Leisure and Hospitality: This industry shed 10 jobs, potentially reflecting seasonal fluctuations in tourism and hospitality.
  • Manufacturing: This sector also lost 5 jobs, which could be attributed to various factors within the broader industry.

Compare to Same Month Last Year:

  • Unemployment rate: Down slightly from 3.5% in December 2022, signifying a minor improvement in the labor market.
  • Nonfarm job growth: Lower than the 25 jobs added in December 2022, showcasing a slower pace of job creation.

Compare to Previous Month:

  • Unemployment rate: Remained unchanged compared to November 2023, indicating a stable labor market.
  • Nonfarm job growth: Decreased from the 70 jobs added in November 2023, reflecting a downward trend.

Future Outlook:

Economists predict cautious optimism for Overland Park’s job market in 2024. The stable unemployment rate and mixed job growth suggest a balanced but evolving market. Potential headwinds like national economic concerns and inflation could create uncertainty. Healthcare, professional services, and other sectors may offer opportunities, while broader factors could impact the overall outlook.

10 Growing Occupations in Overland Park, KS:

  1. Registered Nurses
  2. Customer Service Representatives
  3. Software Developers and Applications Developers
  4. Truck Drivers
  5. Sales Representatives
  6. Marketing Specialists
  7. Accountants and Auditors
  8. Construction Laborers
  9. Teachers
  10. Physical Therapist Assistants

10 Companies Hiring Now in Overland Park, KS:

  1. Garmin International
  2. Cerner Corporation
  3. Sprint Corporation
  4. T-Mobile US, Inc.
  5. Johnson County Community College
  6. City of Overland Park
  7. Walmart
  8. Lowe’s
  9. The Home Depot
  10. Amazon

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