Louisiana unemployment rate falls to 6.2% in July

Louisiana’s unemployment rate decreased in July to 6.2 percent, its lowest level since June 2014, according to seasonally adjusted data released today by the federal Bureau of Labor Statistics.
The state’s civilian labor force, which includes the number of people employed plus those looking for work, increased by 38,438 people from July 2014. The number of those employed in the labor force increased by 40,954 over the year.
Louisiana’s unemployment rate fell by 0.2 percentage points to 6.2 percent, according to seasonally adjusted data from a BLS survey of 750 households. The national unemployment rate held at 5.3 percent while the 17-state Southern regional average rate in July was 5.2 percent.
Nonfarm employment, or private employment plus government employment, grew by 7,200 jobs over the year, according to a seasonally adjusted BLS survey of 7,000 Louisiana employers. It fell by 4,500 jobs over the month with 2,500 fewer government jobs.
July also marks the 58th consecutive month of over-the-year increases in private employment with 13,000 more jobs than in July 2014.
“Although these numbers show growth, they are less than what we’ve come to expect every month,” said Curt Eysink, executive director of the Louisiana Workforce Commission. “They probably are what we should have expected with the low price of oil and with July normally being a slow summer month.”
Manufacturing jobs have increased by 3,300 over the year. Leisure and hospitality added 3,100 jobs over the year and 900 jobs over the month. In July, professional and business services added 2,900 jobs over the year and 700 jobs over the month. Construction lost 2,000 jobs over the year but added 500 jobs in July.
While education and health services lost 1,800 jobs over the month, it gained 8,200 jobs over the year, marking eight consecutive years of over-the-year increases. Information added 1,200 jobs over the year but lost 600 jobs over the month while mining and logging lost 7,100 jobs over the year and 300 jobs in July.
“The ripple effect of the loss in mining and logging jobs, mainly in oil and gas, is probably depressing our job gains in other sectors,” said Eysink.
The Louisiana Workforce Commission will release data for the nine Metropolitan Statistical Areas on September 1.
Seasonally adjusted data are useful for comparisons among states and the nation. Not seasonally adjusted data are useful for comparing trends in parishes and metropolitan statistical areas, and for comparing them to the state. In 2015, the BLS will not provide seasonally adjusted data for the Lafayette, Shreveport, or Hammond metro areas because of the significant changes in their parish composition. BLS plans to review those metro areas in 2016 to consider resuming estimates of their seasonally adjusted data.