La. Reports Stable Unemployment Rate; Strong Nonfarm Job Growth

Louisiana gained 1,400 nonfarm jobs in November 2006 and 59,900 jobs over the year, according to the Louisiana Department of Labor. The November 2006 nonfarm job gains were repeated in every Metropolitan Statistical Area in the state.

The unemployment rate for November 2006 increased slightly to 4.5 percent from the October rate of 4.2 percent. The state’s rate was the same as the November national unemployment rate of 4.5 percent.

Louisiana’s civilian labor force for November 2006 increased to 1,874,034, from 1,870,152, in October. The number of employed in November was 1,788,901, a slight decrease from 1,791,470 in October. The state’s unemployed for November increased to 85,133, from 78,682 in October.

Unadjusted unemployment rates compare parishes and metropolitan statistical areas (MSAs) to the state. The November 2006 unadjusted unemployment rate for Louisiana was 4.2 percent, up from the October rate of 3.9 percent.

The unemployment rates for the MSAs were: Alexandria, 3.7 percent, up from 3.5 percent in October; Baton Rouge, 3.8 up from 3.6; Houma, 3.0, up from 2.9; Lafayette, 2.9, up from 2.8; Lake Charles, 3.7, up from 3.4; Monroe, 4.0, up from 3.9; New Orleans, 5.0, up from 4.8; and Shreveport-Bossier City, 4.1, up from 3.9 percent last month. Lafayette Parish had the lowest unemployment rate at 2.9 percent in November, while East Carroll Parish had the highest rate at 8.1 percent.

Preliminary seasonally adjusted statewide total nonfarm employment for November 2006 was 1,793,000 compared to 1,791,600 for the revised October 2006 figure, for an increase of 1,400 workers.

The sector breakdown was as follows: natural resources and mining, 49,100 employed in November, up from 48,800 employed in October; construction, 111,100, down from 111,400; manufacturing, 147,300, up from 146,800; trade, transportation, and utilities, 365,200, down from 366,700; information, 28,300, up from 28,200; financial activities, 95,500, up from 95,400; professional and business services, 176,600, up from 175,500; educational and health services, 215,300, up from 215,200; leisure and hospitality, 178,400, up from 177,900; other services, 60,900, up from 60,100; and government, 365,300, down from 365,600.

For more detailed information on the November 2006 employment data for Louisiana, visit the Web site, www.Laworks.net.

Source: Louisiana Department of Labor