San Angelo, TX – December 2023 Jobs Report – Steady Growth Amidst National Slowdown

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San Angelo’s job market ended 2023 on a positive note, adding jobs and experiencing a slight decrease in the unemployment rate. However, the pace of growth slowed compared to earlier months, reflecting a national trend of moderation.

Highlights:

  • Job growth: December saw an increase of 700 jobs, bringing the total nonfarm employment to 53,000 (preliminary data). This represents a 1.3% uptick from November and a 1.0% increase year-over-year.
  • Unemployment rate: The unemployment rate dipped to 3.0%, the lowest level since December 2021. This is down from 3.4% in November and 4.1% in December 2022.
  • Wage growth: Average wages continued to rise, but at a slower pace than earlier in the year. The December average was $26.15 per hour, a 3.7% increase year-over-year.

What Industries and Occupations Grew:

  • Professional and Business Services: This sector added 200 jobs, primarily in administrative and office support roles.
  • Trade, Transportation, and Utilities: This sector gained 150 jobs, with growth concentrated in transportation and warehousing.
  • Leisure and Hospitality: This industry showed continued recovery, adding 100 jobs, mainly in food services and accommodation.

What Industries and Occupations Shrank:

  • Government: The government sector lost 50 jobs, primarily in local administration.
  • Manufacturing: Manufacturing shed 30 jobs, mainly in durable goods production.

Compare to Same Month Last Year:

  • Overall employment is up 1.0% compared to December 2022.
  • The unemployment rate is down 1.1 percentage points from December 2022.
  • Average wages are 3.7% higher than in December 2022.

Compare to Previous Month:

  • Job growth slowed compared to November’s 900 additions.
  • The unemployment rate decreased slightly from 3.4% in November.
  • Average wages remained relatively stable compared to November.

Future Outlook:

The future of San Angelo’s job market remains uncertain. While the December report was positive, national economic headwinds could dampen growth in the coming months. The key sectors to watch are energy, healthcare, and professional services, which are expected to see continued expansion.

10 Growing Occupations:

  1. Registered Nurses
  2. Customer Service Representatives
  3. Retail Salespersons
  4. Truck Drivers
  5. Home Health Aides
  6. Construction Laborers
  7. Software Developers
  8. Teachers
  9. Accountants
  10. Marketing Specialists

10 Companies Hiring Now:

  1. Shannon Medical Center
  2. Schlumberger
  3. HEB
  4. Walmart
  5. Lowe’s
  6. Whataburger
  7. City of San Angelo
  8. Angelo State University
  9. Wells Fargo
  10. First Financial Bank

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