Tulsa, OK – January 2024 Job Market Report – Signs of Steady Recovery

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The January 2024 jobs report for Tulsa, Oklahoma paints a picture of a labor market experiencing cautious optimism. While significant growth hasn’t materialized yet, most sectors have stabilized following the economic disruptions of the past two years.

Overview

The unemployment rate in Tulsa dipped slightly to 4.8% in January 2024, compared to 5.1% in December 2023. This aligns with the national trend of a gradually tightening labor market. Job creation, however, remained tepid. The Bureau of Labor Statistics (BLS) data indicates a net gain of 1,200 jobs since December 2023.

Highlights

  • The professional and business services sector led job growth in January, adding 450 new positions.
  • The healthcare and social assistance sector followed closely, creating 380 jobs.
  • Leisure and hospitality, a sector significantly impacted by pandemic restrictions, showed tentative signs of recovery with 210 new jobs.

What Industries and Occupations Grew

  • Professional occupations, such as computer and mathematical occupations, healthcare practitioners and technicians, and business and financial operations occupations, saw the most significant growth.
  • This aligns with national trends highlighting a growing demand for skilled professionals across various sectors [BLS, Occupational Employment Statistics, accessed March 15, 2024].

What Industries and Occupations Shrunk

  • Construction saw a decline of 120 jobs in January.
  • This could be due to seasonal fluctuations or a leveling off after a period of heightened activity.

Compare to Same Month Last Year

Compared to January 2023, Tulsa’s job market has improved slightly. The unemployment rate was 5.3% a year ago, and the overall number of jobs has grown by 2.1%.

Compare to Previous Month

Job growth between December 2023 and January 2024 suggests a modest upward trend. The unemployment rate also dipped slightly, indicating a cautiously optimistic outlook.

Future Outlook

While the January report doesn’t signal a boom, the gradual improvement suggests a stabilizing labor market in Tulsa. National economic forecasts predict moderate job growth throughout 2024, and Tulsa is likely to follow this trend.

10 Growing Occupations in Tulsa

According to the BLS Occupational Employment Statistics, the following occupations are projected to have the fastest employment growth in Tulsa over the next decade [BLS, Occupational Employment Statistics, accessed March 15, 2024]:

  1. Home health and personal care aides
  2. Software developers, applications
  3. Registered nurses
  4. Solar panel installers
  5. Wind turbine service technicians
  6. Physician assistants
  7. Medical assistants
  8. Licensed practical nurses
  9. Special education teachers
  10. Mental health counselors

10 Companies Hiring Now in Tulsa

  1. American Airlines
  2. Saint Francis Health System
  3. Spirit AeroSystems
  4. Tulsa Public Schools
  5. Walmart
  6. Lowe’s
  7. Magellan Midstream Partners, L.P.
  8. ONEOK
  9. Cox Communications
  10. Hilti

Citations