Going up: First-time claims for unemployment insurance in Louisiana for the week ending June 25 increased from the previous week’s total, The Associated Press reports. The state labor department figures released today show that initial claims rose to 2,966 from the previous week’s total of 2,822. For the comparable week a year earlier, there were 2,027. The four-week moving average, which is a less volatile measure of claims, decreased to 3,206 from the previous week’s average of 3,249. Continued unemployment claims claimed for the week ending June 25 increased to 26,939 compared to 26,898 the previous week. The four-week moving average for such claims increased to 25,917 from the previous week’s average of 25,023.
Plus one: Louisiana gained one more active oil and gas rig this week, increasing the total number of rigs searching for oil and gas from 41 to 42. Meanwhile, the United States gained 10 extra rigs and increased its total rig count to 431—exactly half of the 862 rigs the country had this time last year. According to numbers provided by Houston-based Baker Hughes, Louisiana lost two rigs working offshore but gained two on land and one exploring in inland waters. At this time last year, there were 73 rigs exploring and 105 at this time in 2014. Nationally, there were 341 oil rigs, 89 gas rigs and one labeled miscellaneous. The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May at 404.
Back and forth: The Capital Area Transit System will have a public hearing during its August regular meeting to consider adopting an adjusted property tax millage rate or to consider increasing the millage back to its current rate of 10.6 mills. The property tax funds the transit system. The rate is due to be rolled back to 10.23 mills unless the board rolls the rate forward and increases it back to its current level. CATS estimates that it would collect roughly $18 million in tax revenue next year from Baton Rouge from an increased rate. An estimated $633,169 in tax revenue from that amount is attributed to the increased millage. The transit system also estimates that it would collect $515,669 from Baker, of which $28,575 would be attributed to the increase. The public hearing is scheduled to take place at 4 p.m. on Aug. 16 at the BREC Administration Building, 6201 Florida Blvd.
Editor’s note: The offices of Business Report will be closed on Monday in observance of the Independence Day holiday and Daily Report will not be published. Daily Report will return on Tuesday, July 5. Have a safe and happy holiday weekend.
