December 2023 closed out the year with positive news for St. George’s job market, echoing the strong economic performance seen throughout 2023. The unemployment rate remained low, job openings were abundant, and several industries continued to expand.
Highlights:
- Unemployment Rate: 2.5%, slightly higher than November’s 2.3% but still considerably lower than the national average of 3.7%. (Source: Utah Department of Workforce Services)
- Job Growth: 1.3% increase in non-farm payroll jobs compared to November 2023. (Source: Utah Department of Workforce Services)
- Job Openings: Over 8,000 open positions advertised in St. George, indicating continued demand for workers. (Source: Indeed)
What Industries and Occupations Grew:
- Construction: Added the most jobs, reflecting growth in the housing market and infrastructure projects. (Source: St. George News)
- Leisure and Hospitality: Saw steady growth fueled by tourism and the service sector. (Source: Bureau of Labor Statistics)
- Healthcare: Continued expansion due to an aging population and increased demand for medical services. (Source: St. George News)
- Fastest-Growing Occupations: Software Developers, Registered Nurses, Marketing Specialists, Physical Therapists, and Financial Analysts. (Source: Bureau of Labor Statistics)
What Industries and Occupations Shrank:
- Financial Activities: Experienced minor job losses, potentially due to national economic trends. (Source: Bureau of Labor Statistics)
- Professional and Business Services: Saw a slight decline, which could be attributed to automation and outsourcing. (Source: Bureau of Labor Statistics)
Compare to Same Month Last Year:
- Year-Over-Year Job Growth: 5.7%, exceeding the December 2022 growth rate of 4.2%. (Source: Utah Department of Workforce Services)
- Unemployment Rate: Lower than December 2022’s 2.8%, indicating a tighter labor market. (Source: Utah Department of Workforce Services)
Compare to Previous Month:
- Month-Over-Month Job Growth: 1.3%, slightly higher than November 2023’s increase of 1.2%. (Source: Utah Department of Workforce Services)
- Unemployment Rate: Up slightly from November’s 2.3%, but within typical seasonal fluctuations. (Source: Utah Department of Workforce Services)
Future Outlook:
Economists predict continued job growth in 2024, although at a slower pace than 2023. Factors like interest rates and inflation could impact the local economy, but the overall outlook remains positive.
10 Growing Occupations:
- Software Developers
- Registered Nurses
- Marketing Specialists
- Physical Therapists
- Financial Analysts
- Physician Assistants
- Home Health Aides
- Wind Turbine Service Technicians
- Solar Photovoltaic Installers
- Sales Representatives
10 Companies Hiring Now:
- Intermountain Healthcare
- Washington Federal Bank
- The Home Depot
- Zion National Park
- City of St. George
- IHC Dixie Regional Medical Center
- DICK’S Sporting Goods
- Ashley Furniture
- Lowe’s Home Improvement
- Walmart
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