Louisiana unemployment falls to 7.2%, lowest rate of the year

The state’s seasonally adjusted unemployment rate fell to 7.2% in August from 7.6% in July, and private sector employers added 40,000 jobs over the year, according to figures released today by the Louisiana Workforce Commission. It’s the third straight month of improvement in the unemployment rate and the 11th consecutive month that the state has recorded over-the-year gains in nonfarm private sector jobs. Seasonally adjusted results of a survey of Louisiana employers by the federal Bureau of Labor Statistics show the state’s total nonfarm employment was 1,912,100 jobs in August, an over-the-year job gain of 31,600 jobs. This includes a reduction in government jobs—including federal, state and local government and all public education systems—which offsets some of the private sector gains. A separate BLS survey of households is used to estimate the state’s civilian labor force, the number of people employed and unemployed, and the unemployment rate. Louisiana’s August unemployment rate is the lowest of the year for the state and the 13th-lowest in the nation, tied with Minnesota. It’s the third-lowest rate in the Southern region, which averaged 9.1% in August. The national rate was unchanged from July at 9.1%. Louisiana was one of just 12 states recording a rate decrease last month. Non-seasonally adjusted figures for the state, metropolitan statistical areas and parishes will be released Wednesday. For more detailed information on the figures released today, click here.