BATON ROUGE – Preliminary data released today by the Bureau of Labor and Statistics (BLS) shows that the Shreveport Metropolitan Statistical Area (MSA) gained 300 jobs from September 2019.
However, the MSA is down 1,600 jobs when compared to October 2018.
This news follows BLS data that seasonally adjusted nonfarm jobs in the state increased by 3,600 jobs from 1,987,000 in October 2018, to 1,990,600 in October 2019.
Seasonally adjusted nonfarm employment has added jobs over the year in 20 of the last 23 months. Over that same time period, seasonally adjusted private sector employment increased by 5,500 jobs to 1,664,700. Seasonally adjusted private sector employment has added jobs over the year for 20 straight months.
“The increase of 3,600 jobs from this time last year is a sign that the state is moving in a steady and positive direction,” said Louisiana Workforce Commission (LWC) Secretary Ava Dejoie. “Moving forward, the LWC will remain steadfast in its commitment to generate positive growth and continue to return job-seekers waterto the workforce.”
Louisiana’s seasonally adjusted unemployment rate decreased 0.4 percentage points from 4.9 percent in October 2018 to 4.5 percent in October 2019. This is the seventh straight month that Louisiana has maintained full employment status. When comparing October 2019 seasonally adjusted data to previous years, the seasonally adjusted rate of 4.5 percent is the third lowest rate on record for the month of October dating back to 1976.
The number of seasonally adjusted unemployed individuals decreased by 8,104 from 102,277 in October 2018, to 94,173 in October 2019. The number of seasonally adjusted employed individuals increased by 4,740 from 1,996,603 in October 2018, to 2,001,343 in October 2019. The total number of seasonally adjusted employed individuals is the fourth highest on record for the month of October.
Industries that showed the largest gains for seasonally adjusted jobs:
- Professional and Business Services gained 3,200 jobs from October 2018 and 600 jobs from September 2019.
- The Professional and Business Services Sector is at record employment at 216,800 jobs.
- Leisure and Hospitality gained 800 jobs from October 2018 and 1,300 jobs from September 2019.
- Other Services, which includes industries engaged in activities such as equipment and machinery repair services, gained 1,300 jobs from October 2018, but remained unchanged from September 2019.