Wednesday, February 28, 2024

Louisiana not seasonally adjusted unemployment rate second lowest for the month of October 

by BIZ Magazine

BATON ROUGE – Data released today by the Louisiana Workforce Commission shows that Louisiana’s not seasonally adjusted unemployment rate for October 2023 is 3.6 percent. This is tied for the second lowest rate for the month of October in series history. The rate shows no change from the September 2023 rate but an increase of 0.4 percentage points from October 2022. 

Since September 2023, the number of not seasonally adjusted unemployed individuals has increased by 1,158 to 75,571 in October 2023. This is the 3rd lowest number of not seasonally adjusted unemployed individuals for the month of October in series history. Compared to October 2022, the number of not seasonally adjusted unemployed individuals increased by 8,021. 

Since September 2023, the number of not seasonally adjusted employed individuals has decreased by 1,938 to 2,017,083 in October 2023. This is the 4th highest number of not seasonally adjusted employed individuals for the month of October in series history. Compared to October 2022, the number of not seasonally adjusted employed individuals decreased by 3,123. 

October 2023 State & MSA Not Seasonally Adjusted Unemployment Rate 
Area October September October Over-the-Month Over-the-Year 
2023 2023 2022 Change Change 
Louisiana 3.6 3.6 3.2 0.0 0.4 
Alexandria MSA 3.5 3.4 3.0 0.1 0.5 
Baton Rouge MSA 3.2 3.1 2.9 0.1 0.3 
Hammond MSA 4.1 4.0 3.8 0.1 0.3 
Houma MSA 3.4 3.4 3.2 0.0 0.2 
Lafayette MSA 3.5 3.4 3.1 0.1 0.4 
Lake Charles MSA 3.3 3.3 3.1 0.0 0.2 
Monroe MSA 3.7 3.6 3.3 0.1 0.4 
New Orleans MSA 3.7 3.7 3.3 0.0 0.4 
Shreveport MSA 3.9 3.8 3.4 0.1 0.5 

Louisiana’s not seasonally adjusted total nonfarm employment for October 2023 is 1,985,700, an increase of 9,800 jobs from the revised September 2023 estimate of 1,975,900 jobs. Compared to October 2022, not seasonally adjusted nonfarm employment increased by 42,900 jobs. This shows over-the-month employment gains in 13 of the last 16 months and 31 consecutive months with an over-the-year gain. 

State and MSA Not Seasonally Adjusted Total Nonfarm Employment 
Area October September October Over-the-Month Over-the-Year 
2023 2023 2022 Change Change 
Louisiana 1,985,700 1,975,900 1,942,800 9,800 42,900 
Alexandria MSA 63,700 63,500 63,000 200 700 
Baton Rouge MSA 428,800 426,400 417,000 2,400 11,800 
Hammond MSA 49,100 48,900 48,100 200 1,000 
Houma MSA 82,300 81,700 82,300 600 
Lafayette MSA 205,600 204,400 203,100 1,200 2,500 
Lake Charles MSA 98,800 98,200 95,900 600 2,900 
Monroe MSA 79,000 78,900 78,200 100 800 
New Orleans MSA 578,700 573,400 562,700 5,300 16,000 
Shreveport MSA 179,200 178,600 176,700 600 2,500 

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