Louisiana Employment Picture Improves with Large Job Gains

Seasonally adjusted data for the month of May shows that total nonfarm employment gained 10,500 jobs over the month in Louisiana for a new figure of 1,983,200, according to the Louisiana Workforce Commission (LWC).

This is the largest over the month gain since July 2011. In addition, this figure is up 9,400 jobs for the year.

Seasonally adjusted total private-sector employment increased by 9,100 jobs over the month, bringing the new total for May to 1,659,100. There have been over-the-month gains in the private sector four of the last six months. This figure is up 12,600 jobs for the year.

During the month of May, the state’s seasonally adjusted unemployment rate decreased 0.1 percentage points to 5.7 percent. In comparison to the May 2016 unemployment rate of 6.2 percent, this number is down 0.5 percentage points.

The seasonally adjusted civilian labor force, or the number of people who are employed in addition to those looking for work, decreased slightly over the month by 2,410 to 2,118,719.

The number of seasonally adjusted employed individuals decreased by 611, bringing the new total to 1,997,546.

When compared to the May 2016 seasonally adjusted figure of 1,994,792, this figure is up by 2,754. In addition, the number of seasonally adjusted unemployed individuals showed improvement with a decrease of 1,799. This brings the new figure to 121,173.

Industries that showed the largest gains in seasonally adjusted jobs:

  • Construction gained 5,000 jobs for the month and is up 12,600 jobs for the year.
  • Education and Health Services gained 200 jobs for the month and is up 7,000 jobs for the year.
  • Professional and Business Services gained 2,000 jobs for the month and is up 2,800 jobs for the year.
  • Other services which includes industries engaged in activities such as equipment and machinery repair and services gained 900 jobs for the month and is up 1,900 jobs for the year.
  • Among other seasonally adjusted sectors in May:
  • Leisure and Hospitality gained 1,900 jobs for the month, but is down 400 jobs for the year.
  • Mining and Logging which includes industries in the oil gas sector lost 1,000 jobs for the month and is down 4,200 jobs for the year.

Source: Louisiana Workforce Commission

Article source: http://www.insurancejournal.com/news/southcentral/2017/06/20/455142.htm