The Louisiana Workforce Commission reports that the state’s unemployment rate is at a three-year low.
In a July 21 announcement, the LWC said seasonally adjusted data released by the Bureau of Labor and Statistics (BLS) shows that total nonfarm jobs increased by 20,700 since June 2016, for a new total of 1,988,800.
In addition, 4,400 jobs have been added since May 2017. This is the largest over-the-month gain for June since 2010.
In addition, Louisiana’s unemployment rate dipped to a three-year low, 5.5 percent.
Total seasonally adjusted private-sector jobs gained 22,300 since June 2016, bringing the new seasonally adjusted figure for June 2017 to 1,665,000. Approximately 4,700 jobs were added since May 2017. This is also the largest over-the-month private-sector gain for June since 2010.
The seasonally adjusted unemployment rate for Louisiana decreased to 5.5 percent. This is the lowest the unemployment rate has been since February 2014. The decrease marks a 0.2 percentage point decline from the May 2017 figure of 5.7 percent, and is also down 0.7 percentage points from June 2016.
Industries that showed the largest gains in seasonally adjusted jobs:
- Construction gained 4,000 jobs for the month and is up 15,600 jobs for the year.
- Leisure and Hospitality gained 3,700 jobs for the month and is up 4,400 jobs for the year.
- Education and Health Services gained 300 jobs for the month and is up 7,800 jobs for the year.
Among other seasonally adjusted sectors in June:
- Other services, which includes industries engaged in activities such as equipment and machinery repair and services, gained 100 jobs for the month and is up 1,700 jobs for the year.
- Mining and Logging, which includes industries in the oil and gas sector, gained 800 jobs for the month, but is down 2,100 jobs for the year.
The number of seasonally adjusted unemployed individuals decreased by 6,215, bringing the new total to 114,911. Comparing this figure to June 2016’s total of 131,907, this figure is down 16,996. The number of seasonally adjusted employed individuals decreased by 4,249, bringing the new total to 1,993,518.
When compared to the June 2016 seasonally adjusted figure of 1,990,157, this figure is up 3,361.
The seasonally adjusted civilian labor force, or the number of people who are employed in addition to those looking for work, decreased by 10,464, which brings the new total to 2,108,429.
Not seasonally adjusted MSA and individual parish data for June 2017 will be released on July 28, 2017.
Seasonally adjusted data are useful for comparisons among states and the nation. Not seasonally adjusted data are useful for comparing trends in parishes and metropolitan statistical areas, and for comparing them to the state.
Source: LWC
Related:
Topics Louisiana
Was this article valuable?
Here are more articles you may enjoy.
California Commissioner Orders Insurance Cancelation Moratorium for 185K Residents 
U.S. Auto Insurers’ Strong Performance to Continue Through 2025: Fitch 
Downward Spiral: Florida Insurance Agent Charged with Embezzlement After Lawsuits 
Can a Streaming Service Agreement Require Arbitration in a Food Allergy Death? 
