Led by gains in construction and the professional and business services industry, the nine-parish Capital Region had roughly 7,200 more employed residents in October than it had during the same month the year earlier, according to new nonseasonally adjusted figures released today by the federal Bureau of Labor Statistics.
The job gains helped push the unemployment rate in the Capital Region down to 5.4%, compared to 6.2% in October last year. The local unemployment rate was only slightly higher than the Lake Charles metro area rate of 5.3%, which was the lowest of any of the state’s eight metro areas in October.
Statewide, the unemployment rate was 6.4% in October, up 0.2 percentage points from September but down from 6.8% during the same month last year. Unemployment rates in other metro areas in October were: Alexandria, 6.6% (down from 6.8% a year earlier); Hammond, 7% (down from 7.7%); Houma, 6% (down from 7.7%); Lafayette, 6.8% (up from 5.8%); Monroe, 6.8% (down from 7.5%); New Orleans, 6.2% (down from 6.9%); and Shreveport, 7.2% (down from 7.6%).
“The construction boom in the Southwest coupled with the continued growth of jobs in the hospitality sector are the bright spots in our state’s jobs picture this fall,” says Louisiana Workforce Commission Executive Director Curt Eysink in a prepared statement. “However, we continue to see low oil prices having a negative effect on jobs in the Lafayette, Houma and Shreveport areas.”
In Baton Rouge, the figures released today show the nine-parish region added 3,600 construction jobs over the year through October, while 6,100 professional and business services jobs were added over the same period. Trade, transportation and utilities jobs declined by 1,000 over the year, and retail lost another 900 jobs. State government lost 1,200 over the year, while local government lost 700 jobs.
Statewide, the figures show 48,674 fewer participants in the state’s civilian labor force over the 12-month period through October, with 37,076 fewer employed individuals and 11,598 fewer individuals looking for work.
“The decline in the number of people in the civilian labor force may be a result of the slowdown in the oil and gas industry,” Eysink says.
