St. Louis, MO – December 2023 Jobs Report – A Mixed Bag, But Silver Linings Remain

The December 2023 jobs report for St. Louis paints a picture of a complex economic landscape, marked by both positive and negative trends. While certain industries experienced setbacks, others continued to expand, offering opportunities for job seekers.

Overview:

  • Unemployment rate: 3.3% (seasonally adjusted), representing a slight increase from November 2023 (3.2%) and December 2022 (2.7%).
  • Job growth: Overall nonfarm payroll employment decreased by 2,400 jobs from November 2023, but increased by 48,100 jobs compared to December 2022.

Highlights:

  • Private sector: Increased by 4,200 jobs month-over-month, while the public sector gained 1,400.
  • Year-over-year: Trade, Transportation, and Utilities witnessed the most significant growth (+1.8%).
  • Job losses: Mining, Logging, and Construction (-3.1%) and Manufacturing (-0.6%) experienced a decline in December 2023 compared to November 2023.

Industry and Occupation Growth:

Industry and Occupation Shrinkage:

  • Mining, Logging, and Construction: This sector has seen a steady decline in recent months, particularly in construction-related occupations.
  • Manufacturing: Job losses primarily concentrated in production and assembly positions.

Compared to December 2022:

  • The unemployment rate increased by 0.6 percentage points.
  • Overall nonfarm payroll employment grew by 48,100 jobs.
  • Job gains were observed in Trade, Transportation, and Utilities (+1.8%), Professional and Business Services (+1.3%), and Leisure and Hospitality (+1.2%).
  • Job losses occurred in Mining, Logging, and Construction (-3.8%) and Information (-0.1%).

Compared to November 2023:

  • Unemployment rate remained unchanged.
  • Nonfarm payroll employment decreased by 2,400 jobs.
  • Trade, Transportation, and Utilities (+0.1%) and Professional and Business Services (+0.3%) exhibited growth.
  • Manufacturing (-0.6%) and Construction (-0.1%) experienced minor job losses.

Future Outlook:

  • The St. Louis Fed’s December 2023 Job Openings report projects continued growth in Professional and Business Services, Healthcare and Social Assistance, and Education and Government Services.
  • However, potential economic headwinds and industry-specific challenges could moderate job growth in the coming months.

10 Growing Occupations in St. Louis:

  1. Registered Nurses
  2. Software Developers and Applications Specialists
  3. Truck Drivers and Delivery Drivers
  4. Home Health Aides and Personal Care Aides
  5. Customer Service Representatives
  6. Marketing Specialists
  7. Accountants and Auditors
  8. Financial Analysts
  9. Management Analysts
  10. Physicians and Surgeons

10 Companies Hiring Now in St. Louis:

  1. Ameren Corporation
  2. BJC HealthCare
  3. Centene Corporation
  4. Express Scripts Holding Company
  5. Enterprise Holdings
  6. Emerson Electric Co.
  7. Edward Jones
  8. World Wide Technology
  9. Monsanto Company
  10. Nestle Purina PetCare Company

Cited Resources: