With 4.1% growth between May and June, the Baton Rouge metro ranks No. 2 out of large metros—and 11th in the nation—when it comes to job postings, according to the new interactive Metro Recovery Index released by the Brookings Institute.
The index presents data across a variety of indicators to provide a picture of the impact of the novel coronavirus crisis and the trajectory of recent change, for both large and midsized US metropolitan areas. The large metro area category is defined as those with a population of 500,000 to 1 million. The indicators track impacts and trajectories in three major categories: the labor market, the real estate market and other areas of economic activity.
The data also helps paint another picture of how the Baton Rouge metro has been impacted by the pandemic since February. The number of jobs in the metro is down more than 10% from February, just prior to the virus’s spread into Louisiana, but the data suggests that some jobs are returning, with month-to-month job postings up 2.5% from April to May.
Those recently unemployed and seeking benefits for the first time is also dropping. Nearly 18,000 filed for unemployment for the first time the first week of June, more than 60% less than in the first week of May. The drop is the fourth largest out of the large metros and eighth in the nation.
There were nearly 3,400 active for-sale house listings in the metro in June, a 7.7% drop from May and a 20% drop from June 2019. The 20% year-over-year decline was the third highest of the large metros.
The Metro Recovery Index will be updated by the Brookings Institute monthly. Read the full report.