Thursday, July 18, 2024

Unemployment rate declines in Shreveport

by BIZ. Staff

The Shreveport area’s unemployment rate dropped in November, according to Louisiana Workforce Commission statistics released today.

The Shreveport metropolitan statistical area (MSA) was 4.6 percent, down from 4.7 percent in October and down from 5.9 percent in November 2016.

Louisiana’s not seasonally adjusted unemployment rate for November dropped to 4.2 percent.

Compared to the same time last year, Louisiana’s not seasonally adjusted unemployment rate is 1.2 percent lower. April 2008 was the last time the not seasonally adjusted unemployment rate was lower than this.

“We’ve observed measurable improvement in the state’s employment outlook over the year, including declines in the unemployment rates across all metro areas compared to 2016,” said Ava Dejoie, Executive Director of the Louisiana Workforce Commission. “These figures reflect the persistence of Louisiana’s job seekers in pursuing gainful employment, and we hope to further restore confidence in our labor force in the coming year.”

Not seasonally adjusted nonfarm employment increased by 4,900 jobs to 1,997,200 for November. From the same time last year, 14,800 jobs were added.

Not seasonally adjusted private-sector employment increased to 1,671,400 from October 2017’s figure of 1,668,200. From November 2016, 19,200 private-sector jobs have been added.

The not seasonally adjusted civilian labor force increased by 10,405 to 2,109,462. This figure represents the number of people who are employed, in addition to those looking for work. July 2017 was the last time the not-seasonally adjusted civilian labor force was higher.

Monthly data that is not seasonally adjusted does not minimize the changes in any time series which result from normal annual occurrences such as Christmas, summer vacations and weather patterns.

The number of not-seasonally adjusted employed individuals increased by 10,989 to 2,020,389 from October 2017. This is the highest not-seasonally adjusted employment has been in 24 months.

Unemployment rates declined in all LA metro areas over-the-year for the third consecutive month.

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