Louisiana’s labor market showed signs of strengthening in March as employer payrolls increased sharply and unemployment ticked down.
The jobless rate fell to 4.4% in March, down from 4.6% in February, as more people entered the labor force and found jobs. Louisiana’s unemployment rate was 5.6% a year ago. About 95,000 Louisianans were jobless in March, the same as in February.
A separate Louisiana employer payroll survey—many economists’ top labor market indicator—rose by 7,000 in the month to 1.99 million in March. That’s the biggest gain in years, pushing payrolls about 12,000 above year-ago levels.
The U.S. unemployment rate stayed at 4.1% for the third straight month in March, but was still down from 4.5% a year ago.
The U.S. Labor Department released the figures today, adjusted to cancel out seasonal changes.
