Sunday, May 26, 2024

Louisiana September unemployment rate is a record low

by BIZ Magazine

BATON ROUGE, LA – Data released today by the Louisiana Workforce Commission shows that Louisiana’s not seasonally adjusted unemployment rate for September 2022 is 3.5 percent.

This is tied with three other months (most recently, April 2022) for the lowest, not seasonally adjusted rate in series history.

The rate shows a decrease of 0.3 percentage points from the revised August 2022, not seasonally adjusted unemployment rate of 3.8 percent. The rate shows a decrease of 1.6 percentage points from the September 2021 rate of 5.1 percent and is the 19th straight month
with an over-the-year rate decline.

Since August 2022, the number of not seasonally adjusted employed individuals has increased by 17,251 from 2,001,575 to 2,018,826 in September 2022. This is the highest number of employed for September in the series. Compared to September 2021, the number of not seasonally adjusted employed individuals increased by 58,720.

Also, since August 2022, the number of not seasonally adjusted unemployed individuals has decreased by 4,855 from 78,705 to 73,850 in September 2022. This is the lowest number of unemployed individuals for September in the series. When compared to September 2021, the number of not seasonally adjusted unemployed individuals decreased by 30,565.

Not seasonally adjusted September 2022 unemployment rates for Louisiana’s nine MSA’s are as follows:
• Alexandria: 2.9 percent, down from 3.0 percent in August and down from 3.5 percent in September 2021.
• Baton Rouge: 3.2 percent, down from 3.4 percent in August and down from 4.3 percent in September 2021.
• Hammond: 4.3 percent, down from 4.7 percent in August and down from 6.3 percent in September 2021.
• Houma: 3.4 percent, down from 3.5 percent in August and down from 6.2 percent in September 2021.
• Lafayette: 3.2 percent, down from 3.3 percent in August and down from 4.3 percent in September 2021.
• Lake Charles: 3.2 percent, down from 3.4 percent in August and down from 4.6 percent in September 2021.
• Monroe: 3.4 percent, down from 3.6 percent in August and down from 4.3 percent in September 2021.
• New Orleans: 3.8 percent, down from 4.1 percent in August and down from 6.3 percent in September 2021.
• Shreveport: 3.6 percent, down from 3.8 percent in August and down from 4.6 percent in September 2021.

Louisiana’s not seasonally adjusted total nonfarm employment for September 2022 is 1,931,800, an increase of 10,200 jobs from the August 2022 revised estimate of 1,921,600. Compared to September 2021, not seasonally adjusted nonfarm employment increased by 99,000 jobs. The September 2022 employment figure shows 18 consecutive over-the-year gains.

Louisiana’s not seasonally adjusted total private employment for September 2022 is 1,620,900, an increase of 2,600 jobs from the August 2022 revised estimate of 1,618,300. Compared to September 2021, not seasonally adjusted private sector employment increased by 99,900 jobs. The September 2022 employment figure shows 18 consecutive over-the-year gains.

Industries that showed the largest gains for not seasonally adjusted jobs from August 2022:
• Government gained 7,600 jobs from August 2022.
• Construction gained 1,800 jobs from August 2022.
• Education and Health Services gained 1,100 jobs from August 2022.

Industries that showed the largest gains for not seasonally adjusted jobs from September 2021:
• Leisure and Hospitality gained 30,300 jobs from September 2021.
• Education and Health Services gained 19,900 jobs from September 2021.
• Professional and Business Services gained 18,800 jobs from September 2021.

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