Louisiana’s seasonally adjusted employment shows rise in unemployment, more job opportunities

Data released today by the federal Bureau of Labor Statistics shows Louisiana’s seasonally adjusted nonfarm employment figure continues to add jobs as the number of unemployed individuals rise.

Nonfarm is a measure of the number of U.S. workers in the economy, excluding those in farms, private households, and non-profit organizations. The state’s seasonally adjusted total nonfarm employment for January 2024 increased by 7,600 jobs from December 2023, for a total of 1,958,400 jobs, a news release said. Compared to January 2023, seasonally adjusted total nonfarm employment increased by 6,200 jobs.

The Louisiana Workforce Commission uses seasonally adjusted data to provide a more valuable and telling picture of Louisiana’s jobs and employment situation.

The construction sector gained 2,400 jobs from December 2023, the release said. Other major industries showing the largest gains in the month include professional and business services, which gained 1,200 jobs, and government, which gained 1,200 jobs.

The Department of Labor defines seasonal adjustment as a measurement that removes the influences of predictable seasonal patterns to reveal how employment and unemployment figures change from month to month. In the course of a year, the size of the labor force, the levels of employment and unemployment, and other measures of labor market activity undergo fluctuations due to seasonal events, including changes in weather, harvests, major holidays and school schedules. Seasonal adjustment reduces the impact of these changes, making it easier to understand trends.

The number of seasonally adjusted unemployed individuals for January 2024 is estimated to be 85,129.The number of unemployed rose by 2,502 individuals from the December 2023.

Compared to January 2023, the number of seasonally adjusted unemployed individuals increased by 9,231. The number of employed decreased by 680 individuals compared to December 2023. Ultimately, the seasonally adjusted unemployment rate for January 2024 is 4.1%, which is tied for the third-lowest rate in a series history for the month of January, according to the Bureau Labor of Statistics.

“With the help of our stakeholders, Louisiana added over 7,000 nonfarm jobs for January, with the seriesseeing 34 consecutive months with an over-the-year gain,” said Louisiana Workforce CommissionSecretary Susana Schowen. “We stand readily available and are committed to continuing to workalongside our partners to host hiring fairs and provide resources for job seekers.”

Among Louisiana’s MSAs in January 2024, seasonally adjusted data shows:

• Baton Rouge (421,200 jobs) added 1,500 jobs from December 2023 and gained 4,400 jobs fromJanuary 2023.
• Alexandria (61,200 jobs) lost 200 jobs from December 2023 and lost 200 jobs from January 2023.
• Hammond (49,900 jobs) added 200 jobs from December 2023 and gained 1,100 jobs from January2023.
• Houma (85,800 jobs) showed no change from December 2023, but gained 1,300 jobs from January2023.
• Lafayette (205,500 jobs) added 900 jobs from December 2023 and gained 1,000 jobs from January2023.
• Lake Charles (96,200 jobs) added 300 jobs from December 2023 and gained 300 jobs from January2023.
• Monroe (77,300 jobs) lost 200 jobs from December 2023 and lost 900 jobs from January 2023.
• New Orleans (559,200 jobs) lost 1,400 jobs from December 2023 and lost 7,700 jobs from January2023.
• Shreveport (177,400 jobs) added 600 jobs from December 2023, but lost 1,100 jobs from January 2023