Sioux City, IA – December 2023 Jobs Report – Steady Growth Amidst National Slowdown

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Sioux City’s job market maintained its positive momentum in December 2023, adding jobs at a steady pace despite signs of deceleration at the national level. The unemployment rate remained low, and key industries continued to expand, offering promising prospects for job seekers in the coming months.

Highlights:

  • Nonfarm employment increased by 200 jobs: Following a revised gain of 100 jobs in November, December saw a further uptick in employment, pushing the total nonfarm jobs to 90,200.
  • Unemployment rate held at 2.6%: This marks the fourth consecutive month at this historically low level, indicating a tight labor market with readily available opportunities for qualified candidates.
  • Manufacturing remained stable: The sector, a crucial pillar of the Sioux City economy, held steady with 19,400 jobs, maintaining its year-over-year growth trajectory.
  • Trade, Transportation, and Utilities saw slight uptick: After experiencing a dip in recent months, the sector added 300 jobs in December, reaching 19,300 positions.

What Industries and Occupations Grew:

  • Professional and Business Services: This sector added 100 jobs in December, bringing the total to 8,400. Occupations such as accountants, marketing specialists, and human resource professionals saw particular demand.
  • Healthcare and Social Assistance: The sector continued its steady expansion, adding 50 jobs to reach 13,200 positions. Registered nurses, home health aides, and medical assistants were among the in-demand occupations.
  • Construction: This sector showed signs of resilience, adding 20 jobs to reach 4,100 positions. Electricians, carpenters, and construction laborers saw increased demand.

What Industries and Occupations Shrank:

  • Leisure and Hospitality: The sector shed 20 jobs in December, bringing the total to 7,500 positions. The decline is likely due to seasonal adjustments in the hospitality industry.
  • Wholesale Trade: This sector saw a slight decrease of 10 jobs, with the total employment reaching 3,400 positions.

Compare to Same Month Last Year:

  • Sioux City’s job market has added 1,200 jobs since December 2022, representing a 1.3% increase, outpacing the national average job growth rate.
  • The unemployment rate has remained consistently lower than the national average throughout 2023, highlighting the city’s relative economic stability.

Compare to Previous Month:

  • December’s job growth followed a revised gain of 100 jobs in November, indicating a continued, albeit slightly slower, pace of expansion.
  • The unemployment rate remained unchanged from November, suggesting a stable labor market environment.

Future Outlook:

While national economic projections hint at a potential slowdown in 2024, Sioux City’s diversified economy and robust manufacturing sector position it for continued resilience. Increased infrastructure projects and ongoing investments in renewable energy are expected to further bolster job growth in the coming months.

10 Growing Occupations in Sioux City (December 2023):

  1. Registered Nurses
  2. Software Developers
  3. Truck Drivers
  4. Retail Salespersons
  5. General Laborers
  6. Customer Service Representatives
  7. Accountants and Auditors
  8. Marketing Specialists
  9. Physician Assistants
  10. Electricians

10 Companies Hiring Now in Sioux City (December 2023):

  1. Tyson Foods
  2. Wells Fargo
  3. MercyOne Sioux City Medical Center
  4. ADM
  5. Geisinger Health System
  6. Hy-Vee
  7. Bunker Hill Packing Company
  8. Sioux City Community School District
  9. Ashley Furniture
  10. Lowe’s

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