That sinking feeling: The hits just keep coming for the Louisiana oil and gas industry, as further exemplified by this week’s tally of active rigs from Houston-based Baker Hughes Inc. Louisiana lost another three rigs this week, and the state is now down to 51 total. That’s down from 59 rigs just three weeks ago, and down from 71 rigs three months ago. Across the U.S. this week, the rig count fell by 18 to 619. Of those, 498 rigs were seeking oil and 121 explored for natural gas amid depressed energy prices. A year ago, 1,543 rigs were active. Aside from Louisiana, Texas declined by 13 rigs, New Mexico was down four, and Kansas, North Dakota and Pennsylvania were off one apiece. Alaska and Colorado each increased by two rigs and Oklahoma was up one. The U.S. rig count peaked at 4,530 in 1981 and bottomed at 488 in 1999.
On the way down: First-time claims for unemployment insurance in Louisiana for the week ending Jan. 23 decreased from the previous week’s total. The state labor department figures released today show the initial claims fell to 2,658 from the previous week’s total of 3,485. For the comparable week a year earlier, there were 2,531. The four-week moving average, which is a less volatile measure of claims, increased to 3,201 from the previous week’s total of 3,136. Continued unemployment claims claimed for the week ending Jan. 23 decreased to 22,643 compared to 23,891 the previous week. The four-week moving average for such claims decreased to 23,631 from the previous week’s average of 23,641.
Calling for an overhaul: Louisiana’s social services department needs a complete overhaul to adequately protect the well-being of the state’s children. That’s the finding of a 22-member committee tapped by Gov. John Bel Edwards to make recommendations about the Department of Children and Family Services. The panel says a 2010 department reorganization by former Gov. Bobby Jindal’s administration, combined with years of budget cuts, have left the agency “gutted and ineffective” in its mission to protect children and families. Committee members say more coordination is needed across agencies on children’s issues, along with more money dedicated to the effort. The Department of Children and Family Services oversees child welfare, the foster parent program, food stamps and child support enforcement. See the full report.
