Wichita Falls, TX – December 2023 Jobs Report – Steady Growth amid Regional Slowdown

December 2023 saw continued job growth in Wichita Falls, defying a slight slowdown in the broader Texas metro area. The unemployment rate dipped to a preliminary 3.3%, the lowest since December 2019. However, some industries experienced contraction, highlighting the uneven nature of the local economic recovery.

Highlights:

  • Unemployment rate: 3.3% (preliminary), down from 3.7% in November and 4.5% in December 2022.
  • Job growth: Total nonfarm employment increased by 0.2% from November and 1.2% year-over-year.
  • Leading industries: Professional and business services, education and health services, and leisure and hospitality saw the most significant job gains.

What Industries and Occupations Grew:

  • Professional and business services: Added 200 jobs in December, primarily in management, scientific, and technical occupations.
  • Education and health services: Gained 100 jobs, mainly in healthcare support and social assistance roles.
  • Leisure and hospitality: Increased by 50 jobs, driven by growth in food service and accommodation sectors.
  • Fastest-growing occupations: Registered nurses, physician assistants, home health aides, wind turbine service technicians, and software developers.

What Industries and Occupations Shrank:

  • Government: Lost 50 jobs, mostly in local government administration.
  • Manufacturing: Declined by 30 jobs, concentrated in fabricated metal products and machinery manufacturing.
  • Information: Shrunk by 20 jobs, primarily in telecommunications and broadcasting industries.
  • Declining occupations: Retail salespeople, cashiers, truck drivers, customer service representatives, and administrative assistants.

Compare to Same Month Last Year:

  • Nonfarm employment is up 1.2% compared to December 2022.
  • The unemployment rate is lower by 1.2 percentage points.
  • Professional and business services, education and health services, and transportation, warehousing, and utilities added the most jobs year-over-year.

Compare to Previous Month:

  • Nonfarm employment increased slightly from November 2023.
  • The unemployment rate remained unchanged.
  • Leisure and hospitality experienced the strongest job growth month-over-month.

Future Outlook:

The Wichita Falls Metropolitan Statistical Area (MSA) is projected to add 4,200 jobs over the next year, with professional and business services, healthcare, and leisure and hospitality leading the way. However, concerns about a potential national recession could dampen local growth.

10 Growing Occupations:

  1. Registered Nurses
  2. Physician Assistants
  3. Home Health Aides
  4. Wind Turbine Service Technicians
  5. Software Developers
  6. Physical Therapists
  7. Construction Managers
  8. Marketing Specialists
  9. General and Operations Managers
  10. Truck Drivers

10 Companies Hiring Now:

  1. United Regional Health System
  2. Sheppard Air Force Base
  3. City of Wichita Falls
  4. MSU Texas
  5. WFISD
  6. Walmart
  7. Lowe’s
  8. Chick-fil-A
  9. Whataburger
  10. Amazon

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