Wednesday, July 17, 2024

Louisiana Continues Employment Growth with 35 Consecutive Months of Job Increases

by BIZ Magazine

Louisiana’s employment sector continues its upward trajectory, with the state registering 35 consecutive months of over-the-year job gains, according to data released by the federal Bureau of Labor Statistics. The latest figures indicate positive momentum in Louisiana’s economy, with notable increases in various sectors.

The data, released today by the Louisiana Workforce Commission, reveals that the state’s seasonally adjusted total nonfarm employment for February 2024 stands at 1,956,600 jobs. This marks an increase of 3,100 jobs compared to the same period last year. Additionally, Louisiana’s seasonally adjusted private sector employment for February 2024 is 1,640,300 jobs, reflecting a gain of 1,700 jobs over the past year.

Despite a slight decrease of 200 jobs from January 2024, Louisiana’s employment figures remain robust, signaling resilience in the face of economic challenges. The seasonally adjusted unemployment rate for February 2024 is 4.2 percent, tied for the fourth lowest rate in series history for the month of February.

“Louisiana’s job market continues to grow, adding 1,700 jobs in the seasonally adjusted private sector for the month of February,” said Susana Schowen, Secretary of the Louisiana Workforce Commission. “We are committed to working with our stakeholders to help our employers find candidates and to provide our residents with the necessary resources to get good jobs.”

The data also highlights significant gains in specific industries, with major sectors such as Private Education and Health Services, Trade, Transportation, and Utilities, and Construction showing notable increases both over the month and over the year.

Among Louisiana’s Metropolitan Statistical Areas (MSAs), Baton Rouge led the way with the addition of 400 jobs from January 2024 and a gain of 4,300 jobs from February 2023. However, some MSAs experienced slight declines in employment, such as Shreveport, which lost 400 jobs from January 2024 and 2,200 jobs from February 2023.

The Louisiana Workforce Commission emphasizes the importance of seasonally adjusted data in providing a more stable and accurate reflection of employment trends. Notably, seasonally adjusted data allows for more meaningful comparisons over time and across different geographic areas.

For additional employment data and resources, including sectoral employment statistics and labor force data, individuals can visit Louisiana’s Occupational Information System (LOIS) on the Louisiana Workforce Commission’s website at https://www.laworks.net.

The Louisiana Workforce Commission (LWC) is dedicated to fostering workforce growth and providing family-sustaining jobs for Louisiana residents. As an agency of state government, the LWC administers various programs aimed at enhancing workforce development and economic prosperity across the state. For more information, please visit https://www.laworks.net.

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