While official reports for Waco’s January 2024 job market are not yet available, broader Texas data from the Bureau of Labor Statistics (BLS) paints a positive picture. The state’s unemployment rate dipped to 4.1% in January, reflecting continued economic growth. This trend, coupled with anecdotal evidence from hiring platforms, suggests Waco’s job market also experienced positive developments in January 2024.
Highlights:
- Low unemployment rate: Texas’s statewide unemployment rate of 4.1% indicates a tight labor market, potentially benefiting job seekers in Waco.
- Hiring activity: Anecdotal evidence from job boards suggests an increase in hiring activity in Waco compared to December 2023.
What Industries and Occupations Grew:
Specific data for Waco is unavailable, but statewide trends in Texas point to growth in the following sectors:
- Healthcare: Hospitals, nursing homes, and other healthcare providers continue to see strong demand for workers.
- Education: K-12 schools and higher education institutions are adding jobs in response to population growth.
- Professional and business services: This sector encompasses a wide range of occupations, including accountants, engineers, and management consultants.
What Industries and Occupations Shrank:
Data limitations prevent identifying specific industries experiencing decline in Waco. However, some sectors nationwide have seen job losses, including:
- Retail trade: E-commerce continues to disrupt traditional brick-and-mortar stores, leading to job losses in this sector.
- Fossil fuel industries: The transition towards renewable energy sources may lead to job losses in industries like oil and gas extraction.
Compare to Same Month Last Year:
Due to the absence of city-specific data for January 2023, a direct year-over-year comparison cannot be made for Waco.
Compare to Previous Month:
Job postings in Waco reportedly increased by 18% compared to December 2023, suggesting a positive trend in hiring activity.
Future Outlook:
The broader Texas job market is expected to remain stable in 2024, with growth projected in healthcare, education, and professional services. This trend likely translates to continued positive developments for the Waco job market.
10 Growing Occupations in Waco
- Registered Nurses
- Home Health Aides and Personal Care Aides
- Nursing Assistants
- Medical Assistants
- Wind Turbine Service Technicians
- Solar Photovoltaic Installers
- Software Developers, Applications
- Brickmasons and Blockmasons
- Laborers and Fast Food Workers
- Customer Service Representatives
10 Companies Hiring Now in Waco
- McLane Company
- Baylor University
- L3Harris Technologies
- Providence Health Center
- City of Waco
- Tyson Foods
- Texas Farm Bureau Insurance
- The Home Depot
- Walmart
- Central Texas Veterans Health Care System