The state we’re in: New jobs data for September on not seasonally adjusted employment in Louisiana indicate unemployment rates dropped in seven of the state’s nine metropolitan statistical areas from the same period a year ago, including in the Baton Rouge region. The unemployment rate here fell to 5.3%, down from 5.5% in August and 6.3% in September 2014 on the addition of 6,700 jobs year-over-year. “The Baton Rouge and southwest Louisiana areas continue to drive statewide job growth,” reads a prepared statement from Louisiana Workforce Development Executive Director Curt Eysink. “However, the increases in those areas are somewhat offset by declines in Lafayette and Houma, where the effect of continuing low crude oil prices is most evident, and by soft job markets in New Orleans, Shreveport, Alexandria and Monroe.” The LWC has more details on the September figures.
In the bank: Baton Rouge-based Investar Holding Corp., the holding company for Investar Bank, released a third quarter report this morning showing its net income rose 28.7% to $1.8 million during the three month period that ended Sept. 30, compared to the same quarter last year. The bank had net income of $1.4 million during the third quarter last year. “We continue to experience solid loan growth throughout our markets. [Commercial and industry] loan growth remains a focus and we are pleased with the 25% year to date growth in the portfolio,” says Investar Holding Corporation President and Chief Executive Officer John D’Angelo in the report. “We are also continuing to see the results of our efforts to grow our noninterest-bearing deposits with 35% growth year to date.” Get more details on Investar’s third quarter report.
Winning: For the first quarter of fiscal year 2016, the Louisiana Lottery Corp. has transferred $38.9 million to the state’s coffers, up 6% from 2015. Lottery President and CEO Rose Hudson says in a news release that scratch-off sales continue to be a player favorite, with $3 million more in sales than last year. She says the in-state Lotto game also has experienced a 44% sales spike thanks to a recent $3.2 million jackpot run, the largest in 17 years. With first-quarter revenue of $111,152,632 the Lottery contributed $38,903,425 to the state treasury. At least 35% of lottery proceeds are transferred to the treasury and dedicated for K-12 public education. Roughly 53% of sales fund prizes and less than 6% is used to operate the lottery.
