The January 2024 jobs report for South Bend paints a picture of steady growth amidst some national economic uncertainties. While the city avoided the downturns seen in other parts of the country, its reliance on manufacturing leaves it vulnerable to future fluctuations.
Highlights:
- Unemployment remained low: January’s unemployment rate was 4.8%, slightly below the national average of 5.0%.
- Job growth: The South Bend-Mishawaka area added 2,000 jobs between December 2023 and January 2024.
- Income forecast: The Indiana Business Research Center predicts an increase in income for the region in 2024.
What Industries and Occupations Grew:
- Professional and Business Services: This sector saw the most significant growth, adding 500 jobs, primarily in areas like healthcare and education.
- Leisure and Hospitality: This industry added 300 jobs, driven by the tourism sector and local restaurants.
- Trade, Transportation, and Utilities: This sector added 200 jobs, mainly in transportation and warehousing.
What Industries and Occupations Shrank:
- Manufacturing: This sector lost 100 jobs, likely due to the slowdown in the national manufacturing industry.
- Construction: This industry lost 50 jobs, potentially reflecting the completion of major construction projects in the area.
Compare to Same Month Last Year:
- Unemployment: The January 2024 unemployment rate was 0.2% lower than January 2023.
- Job growth: The South Bend-Mishawaka area added 1,000 more jobs in January 2024 compared to January 2023.
Compare to Previous Month:
- Unemployment: The January 2024 unemployment rate was 0.1% lower than December 2023.
- Job growth: The South Bend-Mishawaka area added 500 more jobs in January 2024 than in December 2023.
Future Outlook:
The future of the South Bend job market remains somewhat uncertain. While the current trends are positive, the city’s reliance on manufacturing makes it susceptible to national economic downturns. The Indiana Business Research Center predicts continued growth in 2024, but warns that the manufacturing sector could pose a challenge.
10 Growing Occupations:
- Registered Nurses
- Software Developers
- Customer Service Representatives
- Truck Drivers
- Home Health Aides
- Mental Health Counselors
- Marketing Specialists
- Accountants
- Physicians
- Elementary School Teachers
10 Companies Hiring Now:
- Beacon Health System
- University of Notre Dame
- AM General
- Lippert Components, Inc.
- CTS Corporation
- Memorial Hospital of South Bend
- Saint Joseph Regional Medical Center
- City of South Bend
- South Bend Community School Corporation
- Mishawaka School Corporation
Resources:
- South Bend and Elkhart forecast 2024 – IBRC
- Indiana Jobs Report
- South Bend and Elkhart County Chamber of Commerce