BATON ROUGE, LA – Data released today by the federal Bureau of Labor Statistics shows that Louisiana’s seasonally
adjusted labor force data has again set several new records.
The number of employed for March 2023 is 2,030,553, a record high for the series. The number of employed saw a gain
of 8,791 individuals from the February revised estimate of 2,021,762. Compared to March 2022, the number of seasonally
adjusted employed individuals increased by 12,208.
The seasonally adjusted unemployment rate for March 2023 is 3.6 percent. The rate is the lowest rate for March and is
tied for the second-lowest rate in series history. This shows no change from the February 2023 rate but declined by 0.1
percentage points from the March 2022 rate of 3.7 percent. The rate has declined over the year for 25 consecutive
months.
The number of unemployed individuals was estimated to be 75,972, the lowest figure for March in series history. Since
February 2023, the number of seasonally adjusted unemployed individuals increased by 101 from 75,871. Compared to
March 2022, the number of seasonally adjusted unemployed individuals decreased by 2,093.
“Louisiana’s number of employed continues to increase and produce record-breaking results,” said Louisiana Workforce
Commission Secretary Ava Cates. “LWC’s partnerships with employers have enabled us to host job fairs almost daily
across the month, helping Louisianans reach employment and keeping those numbers on the rise.”
The state’s seasonally adjusted total nonfarm employment for March 2023 is 1,949,900 jobs, an increase of 4,400 jobs
from the February 2023 revised estimate of 1,945,500 jobs. Compared to March 2022, seasonally adjusted total nonfarm
employment increased by 40,200 jobs. The series has seen 24 consecutive months with an over-the-year gain. This is the
highest employment level for the state since March 2020.
Louisiana’s seasonally adjusted private sector employment for March 2023 is 1,635,900 jobs, an increase of 4,800 jobs
from the February 2023 revised estimate of 1,631,100 jobs. Compared to March 2022, seasonally adjusted private sector
employment increased by 36,100 jobs. The series has added jobs over the year for 24 consecutive months.
Major industries that showed the largest gains for seasonally adjusted jobs over the month:
- Construction gained 1,100 jobs from February 2023.
- Mining and Logging gained 800 jobs from February 2023.
- Private Education and Health Services gained 800 jobs from February 2023.
Major industries that showed the largest gains for seasonally adjusted jobs over the year:
- Private Education and Health Services gained 14,500 jobs from March 2022.
- Leisure and Hospitality gained 9,900 jobs from March 2022.
- Construction and Financial Activities each gained 4,600 jobs from March 2022.
Among Louisiana’s MSAs in March 2023, seasonally adjusted data shows:
- Alexandria (63,000 jobs) added 100 jobs from February 2023 and gained 1,300 jobs from March 2022.
- Baton Rouge (420,500 jobs) added 2,700 jobs from February 2023 and gained 12,900 jobs from March 2022.
- Hammond (48,300 jobs) added 400 jobs from February 2023 and gained 1,000 jobs from March 2022.
- Houma (81,300 jobs) added 100 jobs from February 2023 and gained 600 jobs from March 2022.
- Lafayette (201,700 jobs) lost 200 jobs from February 2023, but gained 1,200 jobs from March 2022.
- Lake Charles (96,000 jobs) showed no change from February 2023, but lost 400 jobs from March 2022.
- Monroe (77,900 jobs) lost 100 jobs from February 2023, but gained 700 jobs from March 2022.
- New Orleans (564,700 jobs) added 1,000 jobs from February 2023 and gained 12,100 jobs from March 2022.
- Shreveport (176,900 jobs) showed no change from February 2023, but gained 2,100 jobs from March 2022.