Nonfarm Job Growth Continues in La. as Unemployment Declines

Seasonally adjusted nonfarm jobs in Louisiana added 56,300 workers between August 2006 and August 2007, bringing the total number of jobs in the state to 1,926,000, according to the Louisiana Department of Labor.

Louisiana’s unemployment rate for August 2007 was 3.8 percent, down slightly from 3.9 percent for July 2007. The August 2006 revised rate was 3.7 percent. The August 2007 unemployment rate for the U.S. was 4.6 percent, the same as the July 2007 rate, but decreased from the year-ago figure of 4.7 percent.

Louisiana’s civilian labor force – the number of people working or looking for work – for August 2007 slipped to 1,979,201, from 1,979,552, in July 2007. The number of employed in August was 1,903,580, a slight increase from 1,903,320 in July. The number of unemployed in Louisiana for August 2007 decreased to 75,621 from 76,232 in July 2007.

Unadjusted unemployment rates compare parishes and metropolitan statistical areas (MSAs) to the state. The August 2007 unadjusted unemployment rate for Louisiana was 4.1 percent, down from the preliminary July 2007 rate of 4.4 percent.

The unemployment rates for the MSAs were: Alexandria, 4.0 percent, down from 4.4 percent in July 2007; Baton Rouge, 3.9 down from 4.1; Houma, 2.7, down from 2.8; Lafayette, 2.8, down from 3.0; Lake Charles, 4.0, down from 4.1; Monroe, 4.8, down from 5.1; New Orleans, 4.2, down from 4.4; and Shreveport-Bossier City, 4.5, down from 5.0. Lafourche, Terrebonne, and Lafayette Parishes had the lowest unemployment rate of 2.7 percent in August 2007 while East Carroll Parish had the highest rate of 9.7 percent.

Preliminary seasonally adjusted statewide total nonfarm employment for August 2007 was 1,926,000 compared to 1,921,700 for the revised July 2007 figure, an increase of 4,300 workers.

The sector breakdown was as follows: natural resources and mining, 50,900 employed in August 2007, up from 50,700 in July 2007; construction, 139,000, down from 139,900; manufacturing, 154,700, down from 155,100; trade, transportation, and utilities, 383,800, unchanged from July; information, 26,100 up from 25,800; financial activities, 98,000, up from 97,000; professional and business services, 201,200, up from 200,500; educational and health services, 247,000, up from 245,900; leisure and hospitality, 196,800, up from 196,500; other services, 69,700, up from 69,400; and government, 358,800, up from 357,100 last month.

Source: Louisiana Department of Labor, www.LAWORKS.net