Wednesday, June 19, 2024

Shreveport MSA Experiences Steady Employment Landscape Amid Statewide Growth

by BIZ Magazine

Shreveport, LA – Louisiana’s employment indicators continue to show growth, as reported by the federal Bureau of Labor Statistics. However, the Shreveport Metropolitan Statistical Area (MSA) remained steady with no change in job numbers from March 2024, while experiencing a slight year-over-year decline.

Statewide Employment Trends

Louisiana’s seasonally adjusted total nonfarm employment for April 2024 reached 1,965,400 jobs, marking an increase of 7,500 jobs from the revised March 2024 figure of 1,957,900 jobs. This uptick continues a positive trend, with the state seeing over-the-month employment gains in 13 of the last 18 months. Year-over-year, nonfarm employment rose by 10,700 jobs, achieving 37 consecutive months of annual employment growth.

The state’s private sector employment also mirrored this growth, with seasonally adjusted figures showing 1,647,600 jobs in April 2024. This represents an increase of 7,500 jobs from March 2024 and an 8,800-job increase compared to April 2023. The private sector has recorded over-the-year employment gains in 36 of the last 37 months.

Shreveport MSA Snapshot

While the Shreveport MSA maintained its March 2024 employment level at 177,400 jobs, it faced a year-over-year decline, shedding 1,800 jobs since April 2023. This contrast with the overall state growth highlights unique local challenges.

Key Statewide Sector Gains

Several major industries across Louisiana reported significant job gains in April 2024:

  • Trade, Transportation, and Utilities: Added 2,400 jobs from March 2024.
  • Professional and Business Services: Gained 1,700 jobs from March 2024.
  • Leisure and Hospitality: Increased by 1,600 jobs from March 2024.

Over the year, the most substantial gains were seen in:

  • Construction: Added 6,000 jobs since April 2023.
  • Private Education and Health Services: Increased by 4,000 jobs since April 2023.
  • Other Services: Gained 2,000 jobs from April 2023.

Statewide Unemployment Rates

The seasonally adjusted unemployment rate for Louisiana in April 2024 was 4.3%, a slight decrease from 4.4% in March 2024, but up from 3.4% in April 2023. The number of employed individuals rose to 1,991,588, while the number of unemployed decreased to 89,435.

Other MSA Comparisons

Comparatively, other MSAs in Louisiana showed various degrees of growth:

  • Alexandria: Added 100 jobs from March 2024 and 500 jobs from April 2023.
  • Baton Rouge: Saw an increase of 2,000 jobs from March 2024 and 7,800 jobs from April 2023.
  • Hammond: Added 200 jobs from March 2024 and 400 jobs from April 2023.
  • Houma: Increased by 100 jobs from March 2024 and 1,000 jobs from April 2023.
  • Lafayette: Gained 500 jobs from March 2024 and 1,000 jobs from April 2023.
  • Lake Charles: Added 1,000 jobs from March 2024 and 1,300 jobs from April 2023.
  • Monroe: Increased by 300 jobs from March 2024 but lost 1,200 jobs from April 2023.
  • New Orleans: Added 2,400 jobs from March 2024 but lost 3,200 jobs from April 2023.

For further details on Louisiana’s employment statistics and upcoming data releases, visit the Louisiana Workforce Commission’s website.

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