Saturday, July 20, 2024

Louisiana Reports 38th Consecutive Over-the-Year Employment Gain

by BIZ Magazine

Baton Rouge, LA – The Louisiana Workforce Commission (LWC) announced today that Louisiana has achieved its 38th consecutive month of over-the-year employment growth, despite a slight decline in jobs from the previous month.

According to the data, Louisiana’s not seasonally adjusted total nonfarm employment for May 2024 stands at 1,966,700, a decrease of 3,600 jobs from the revised April 2024 figure of 1,970,300 jobs. However, compared to May 2023, nonfarm employment has increased by 4,300 jobs, continuing the state’s long-term trend of employment growth.

The total private employment in the state for May 2024 is 1,643,800, which is 3,100 jobs fewer than April 2024’s revised estimate of 1,646,900. Nevertheless, this figure represents an increase of 1,500 jobs compared to May 2023.

Employment Figures by Metropolitan Statistical Areas (MSAs)

The employment data for various MSAs in Louisiana reveals mixed trends:

  • Alexandria MSA: 62,100 jobs (+300 over the month, +700 over the year)
  • Baton Rouge MSA: 424,800 jobs (-100 over the month, +6,100 over the year)
  • Hammond MSA: 49,700 jobs (-100 over the month, +100 over the year)
  • Houma MSA: 86,400 jobs (+500 over the month, +1,100 over the year)
  • Lafayette MSA: 206,500 jobs (unchanged over the month, +1,300 over the year)
  • Lake Charles MSA: 97,000 jobs (-100 over the month, +1,800 over the year)
  • Monroe MSA: 77,100 jobs (-200 over the month, -1,500 over the year)
  • New Orleans MSA: 565,300 jobs (-2,100 over the month, -6,500 over the year)
  • Shreveport MSA: 177,700 jobs (unchanged over the month, -1,800 over the year)

Unemployment Rates

Louisiana’s not seasonally adjusted unemployment rate for May 2024 is 3.6%, reflecting a 0.2 percentage point increase from April 2024. This rate remains unchanged compared to May 2023. The number of employed individuals has decreased by 29,400 since April 2024, totaling 1,982,676 in May 2024. However, the number of unemployed individuals has increased by 2,532 to 74,049 in May 2024, although this is a decrease of 1,389 compared to May 2023.

MSA Unemployment Rates

The unemployment rates across Louisiana’s MSAs for May 2024 are as follows:

  • Alexandria MSA: 3.4% (+0.1% over the month, unchanged over the year)
  • Baton Rouge MSA: 3.2% (+0.2% over the month, unchanged over the year)
  • Hammond MSA: 4.2% (+0.2% over the month, -0.1% over the year)
  • Houma MSA: 3.2% (+0.2% over the month, unchanged over the year)
  • Lafayette MSA: 3.4% (+0.1% over the month, unchanged over the year)
  • Lake Charles MSA: 3.3% (+0.2% over the month, -0.1% over the year)
  • Monroe MSA: 3.9% (+0.2% over the month, unchanged over the year)
  • New Orleans MSA: 3.6% (+0.1% over the month, -0.1% over the year)
  • Shreveport MSA: 3.8% (+0.2% over the month, unchanged over the year)

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