Louisiana continues to set unemployment records

BATON ROUGE, La. – Data released today by the federal Bureau of Labor Statistics shows that Louisiana’s August 2022 seasonally adjusted unemployment rate is 3.5 percent. This is a record low for the rate and is the third consecutive month that Louisiana has set a new unemployment rate record.

Louisiana’s seasonally adjusted unemployment rate declined 0.2 percentage points from July 2022 and showed a 1.7 percentage point decline from August 2021. The seasonally adjusted unemployment rate has declined over the year for 18 consecutive months and has not seen an over-the-month increase since April 2020.

The state set a record for the lowest number of unemployed in the series' history. The August 2022 number of seasonally adjusted unemployed is estimated at 73,909, a decline of 2,967 individuals from the prior record set in July of 76,876. Compared to August 2021, the number of seasonally adjusted unemployed individuals decreased by 32,804.

“With unemployment rates continuing to fall and employment continuing to grow, Louisiana shows its commitment to putting people back to work,” said Louisiana Workforce Commission Secretary Ava Cates. “Programs like Tech Ready Louisiana offered thru the LWC can give employees the skills needed to drive their careers further.”

To help ensure the state’s workforce is ready for careers of the future LWC launched “Tech Ready Louisiana,” a program that will bring free online learning to thousands of people across the state. LWC is partnering with Coursera to offer Louisianians access to thousands of courses to help them develop new skills and increase their career readiness. To register for “Tech Ready Louisiana” residents need to be 18 or older and have or create a HiRE account. Once they have an account they can register here or use the link on our homepage. To learn more about Coursera and the courses they offer, click here.

Since July 2022, the number of seasonally adjusted employed individuals has decreased by 5,449 from 2,027,639 to 2,022,190 in August 2022. Despite the loss, this month's figure is the 10th highest in the series' history. Compared to August 2021, the number of seasonally adjusted employed individuals increased by 68,481.

The labor force participation rate, which measures people ages 16 to 64 working or looking for work, was 58.7 percent, a decrease of 0.2 percentage points from July. However, the August 2022 rate gained 0.9 percentage points from August 2021.

The state’s seasonally adjusted total nonfarm employment for August 2022 is 1,931,000 jobs, an increase of 7,100 jobs from the revised July 2022 estimate of 1,923,900 jobs. Compared to August 2021, seasonally adjusted total nonfarm employment increased by 45,900 jobs. The series is at its highest employment level since March 2020 and has seen 17 consecutive months with an over-the-year gain. The series has also added jobs in 10 of the last 11 months over the month.

Louisiana’s seasonally adjusted private sector employment for August 2022 is 1,619,700 jobs, an increase of 4,300 jobs from the July 2022 revised estimate of 1,615,400 jobs. Compared to August 2021, seasonally adjusted private sector employment increased by 49,800 jobs. The series has added jobs over the month for 11 consecutive months and jobs over the year for 17 consecutive months.

Major industries that showed the largest gains for seasonally adjusted jobs over the month:

• Government gained 2,800 jobs from July 2022.

• Professional and Business Services gained 2,200 jobs from July 2022.

• Leisure and Hospitality gained 1,600 jobs from July 2022.

Major industries that showed the largest gains for seasonally adjusted jobs over the year:

• Professional and Business Services gained 17,200 jobs from August 2021.

• Leisure and Hospitality gained 10,500 jobs from August 2021.

• Manufacturing gained 8,700 jobs from August 2021.

Among Louisiana’s MSAs in August 2022, seasonally adjusted data shows:

• Alexandria (63,000 jobs) showed no change from July 2022, but gained 2,200 jobs from August 2021.

• Baton Rouge (401,600 jobs) added 1,900 jobs from July 2022 and gained 10,600 jobs from August 2021.

• Hammond (47,100 jobs) added 300 jobs from July 2022 and gained 400 jobs from August 2021.

• Houma (81,400 jobs) added 900 jobs from July 2022, but lost 1,200 jobs from August 2021.

• Lafayette (202,300 jobs) added 1,300 jobs from July 2022 and gained 5,500 jobs from August 2021.

• Lake Charles (102,200 jobs) added 800 jobs from July 2022 and gained 4,700 jobs from August 2021.

• Monroe (76,100 jobs) showed no change from July 2022, but gained 900 jobs from August 2021.

• New Orleans (558,500 jobs) added 2,800 jobs from July 2022 and gained 10,600 jobs from August 2021.

• Shreveport (176,700 jobs) declined by 200 jobs from July 2022, but gained 5,700 jobs from August 2021.

Not Seasonally Adjusted Data

Louisiana’s not seasonally adjusted unemployment rate for August 2022 is 3.8 percent. This is the lowest not seasonally adjusted unemployment rate for August in the series.

The rate shows a decrease of 0.8 percentage points from the revised July 2022 not seasonally adjusted unemployment rate of 4.6 percent. The rate shows a decrease of 1.8 percentage points from the August 2021 rate of 5.6 percent.

Since July 2022, the number of not seasonally adjusted employed individuals decreased by 19,562 from 2,021,028 to 2,001,466 in August 2022. Compared to August 2021, the number of not seasonally adjusted employed individuals increased by 47,707.

Since July 2022, the number of not seasonally adjusted unemployed individuals has decreased by 17,699 from 96,454 to 78,755 in August 2022. When compared to August 2021, the number of not seasonally adjusted unemployed individuals decreased by 36,309.

Louisiana’s not seasonally adjusted total nonfarm employment for August 2022 is 1,921,400, an increase of 9,000 jobs from the July 2022 revised estimate of 1,912,400. Compared to August 2021, not seasonally adjusted nonfarm employment increased by 44,700 jobs. The August 2022 employment figure shows 17 consecutive over-the-year gains.

Louisiana’s not seasonally adjusted total private employment for August 2022 is 1,618,100, an increase of 2,300 jobs from the July 2022 revised estimate of 1,615,800. Compared to August 2021, not seasonally adjusted private sector employment increased by 47,600 jobs. The August 2022 employment figure shows 17 consecutive over-the-year gains.

August 2022, metropolitan statistical area (MSA) and parish unemployment rates will be released on September 23, 2022.

Seasonally Adjusted vs. Not Seasonally Adjusted Data

Jobs and employment trends data are often difficult to understand because there are two different ways to look at the data, seasonally or non-seasonally adjusted data.

Seasonal adjustment works to measure and remove the influences of predictable seasonal patterns to reveal how employment and unemployment figures change from month to month. Not seasonally adjusted data retains seasonal employment trends.

Over a year, the labor force size, available jobs, and employment rates undergo predictable fluctuations due to seasonal changes in weather, harvests, major holidays, and school schedules. Seasonal adjustment reduces the impact of these changes, making it easier to understand trends. Seasonally adjusted data is best utilized when comparing several months of employment and job data, while not seasonally adjusted data is best used to compare over-the-year trends. Seasonally adjusted data is helpful for comparisons among states and the nation.

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

To view all available employment data, visit Louisiana's employment homepage at http://www.laworks.net and select Labor Market Information from the top-right menu. Then, select LOIS (Louisiana Occupational Information System) and select Employment and Wage Data listed under Data Trends. To view the state's BLS Local Area Unemployment Statistics, visit http://data.bls.gov/pdq/querytool.jsp?survey=la. For BLS nonfarm employment data, click here: http://data.bls.gov/pdq/querytool.jsp?survey=sm.

Data Considerations

All data published from the Bureau of Labor Statistics is preliminary and is subject to revision on a monthly, quarterly, and annual basis. Revised numbers for previous months are available from the BLS databases on bls.gov. The revised numbers are available upon the release of new data.

Resources for Employers and Job Seekers

Job-seekers can explore careers, apply for top-rated jobs, and connect with local training providers using Louisiana Star Jobs, the LWC’s free career tool, at http://www.laworks.net/Stars/. Employers looking for workers should visit Louisiana’s employment homepage at http://www.laworks.net. Click on HiRE (Helping Individuals Reach Employment) and create an account allowing access to qualified job seekers.

About the Louisiana Workforce Commission

The Louisiana Workforce Commission is an agency of state government that administers programs designed to enhance workforce growth and provide family-sustaining jobs for Louisiana residents. The commission monitors employment, administers unemployment compensation and tax funds, provides training resources for employers and employees, and oversees worker compensation benefits. The agency also gathers and supplies information on Louisiana's labor market and occupational sectors.