BATON ROUGE – Data released today by the Louisiana Workforce Commission shows that Louisiana’s not seasonally adjusted unemployment rate for August 2023 is 3.4 percent. This is the lowest rate for the month of August in series history and is the third-lowest rate of all time. The rate shows an increase of 0.1 percentage points from the July 2023 rate of 3.3 percent but a decrease of 0.5 percentage points from August 2022.
Since July 2023, the number of not seasonally adjusted unemployed individuals has increased by 1,782 to 71,468 in August 2023. This is the lowest number of not seasonally adjusted unemployed individuals for the month of August in series history and the 10th lowest of all time. Compared to August 2022, the number of not seasonally adjusted unemployed individuals decreased by 10,638.
Since July 2023, the number of not seasonally adjusted employed individuals has decreased by 17,033 to 2,006,019 in August 2023. This is the fourth highest number of not seasonally adjusted employed individuals for the month of August in series history. Compared to August 2022, the number of not seasonally adjusted employed individuals decreased by 43.
Not seasonally adjusted August 2023 unemployment rates for Louisiana and its nine MSAs are as follows:
|State and MSA Not Seasonally Adjusted Unemployment Rate|
|Baton Rouge MSA||3.1||3.0||3.6||0.1||-0.5|
|Lake Charles MSA||3.0||2.9||3.7||0.1||-0.7|
|New Orleans MSA||3.6||3.4||4.0||0.2||-0.4|
Louisiana’s not seasonally adjusted total nonfarm employment for August 2023 is 1,955,400, an increase of 8,500 jobs from the revised July 2023 estimate of 1,946,900 jobs. Compared to August 2022, not seasonally adjusted nonfarm employment increased by 34,100 jobs. This shows over-the-month employment gains in 11 of the last 14 months and 29 consecutive months with an over-the-year gain.
Louisiana’s not seasonally adjusted total private employment for August 2023 is 1,645,500, an increase of 2,100 jobs from the July 2023 revised estimate of 1,643,400. Compared to August 2022, not seasonally adjusted private sector employment increased by 29,000 jobs. This shows over-the-month employment gains in 15 of the last 20 months and 29 consecutive months with an over-the-year gain.
|State and MSA Not Seasonally Adjusted Total Nonfarm Employment|
|Baton Rouge MSA||422,100||417,800||411,100||4,300||11,000|
|Lake Charles MSA||96,900||96,800||94,600||100||2,300|
|New Orleans MSA||565,200||563,500||555,600||1,700||9,600|