Job stats best of the year?
Recently released employment numbers may be the best for the year given COVID-19 layoffs and the downturn in the oil and gas industry.
In releasing the job numbers Friday, the Louisiana Workforce Commission stated the February not seasonal employment data did not reflect any COVID-19 impacts.
The February numbers were historically low, according to the news release from the commission.
Not seasonally adjusted numbers do not take into account factors such as weather and holidays.
The February unemployment rate for St. Landry Parish was 5.8%, up from 5.7% in February 2019 and down from 7.6% in January.
In Acadia Parish, the February jobless rate was 4.6%, down from 4.7% in February 2019 and down from 6.2% in January.
In Evangeline Parish, the February unemployment rate was 5.2%, up from 5.1% in February 2019 and down from 7% in January.
The Tri-Parish — St. Landry, Acadia and Evangeline — workforce totaled 66,915 in February, up 253 people from February 2019.
The St. Landry Parish workforce totaled 31,699 in February, up 1.4% or 427 people from the February 2019 workforce.
The workforce includes those working and people looking for a job.
The Acadia Parish workforce in February totaled 23,579, up 14 from the February 2019 workforce.
In Evangeline Parish, the February workforce was 11,637, down 160 people or 1.4% from the February 2019 workforce.
In March, the Bureau of Labor & Statistics released by the Louisiana Workforce Commission, stated the non seasonally adjusted annualized unemployment rate for the state was 4.8%. The commission news release stated it was the third lowest in series history.
The February state not seasonally adjusted state unemployment rate was 4.3%, down from January’s 5.7% rate.
“This is the largest over-the-month drop in the not seasonally adjusted unemployment rate since February 2006. Over that same time period, the number of not seasonally adjusted unemployed individuals decreased by 29,836 from 119,633 in January 2020 to 89,797 for February 2020,” the report stated.
The number of not seasonally adjusted employed individuals increased by 28,650 from 1,977,412 in January to 2,006,062 in February. This is the second highest not seasonally adjusted number of employed for the month of February in the series. Since February 2019, the number of not seasonally adjusted employed individuals increased by 14,178.
Not seasonally adjusted nonfarm employment increased by 15,500 jobs from 1,970,300 in January to 1,985,800 in February. Over that same time period, not seasonally adjusted private sector employment increased by 10,100 jobs from 1,640,400 to 1,650,500.
Not seasonally adjusted February unemployment rates for Louisiana’s nine Metropolitan Statistical Areas are as follows:
— Alexandria: 4.5%, down from 4.6% in February 2019 and down from 6.2% in January.
— Baton Rouge: 3.8%, unchanged from 3.8% in February 2019 and down from 5.1% in January.
— Hammond: 4.7%, down from 4.8% in February 2019 and down from 6.6% in January.
— Houma: 3.9%, down from 4.1% in February 2019 and down from 5.4% in January.
— Lafayette: 4.3%, up from 4.2% from February 2019 and down from 5.7% in January.
— Lake Charles: 4%, up from 3.5% in February 2019 and down from 5.3% in January.
— Monroe: 5%, up from 4.8% in February 2019 and down from 6.4% in January.
— New Orleans: 3.9%, unchanged from 3.9% in February 2019 and down from 5.2% in January.
— Shreveport: 4.6%, up from 4.5% in February 2019 and down from 6% in January.