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December jobless rate dips from 5% to 4.9%

Data released Friday by the Bureau of Labor and Statistics shows that seasonally adjusted nonfarm employment increased by 21,900 jobs from December 2017 to 1,992,200. This marks the 15th straight over-the-year increase for seasonally adjusted nonfarm employment. From November 2018, seasonally adjusted nonfarm employment increased by 700 jobs.
Seasonally adjusted private-sector employment increased by 23,800 jobs from December 2017 to 1,668,500. This also marks the fifteenth straight month that seasonally adjusted private-sector employment has increased over-the-year. From November 2018, seasonally adjusted private-sector employment increased by 1,100 jobs.
The seasonally adjusted unemployment rate decreased from 5 percent to 4.9 percent in December 2018.
The number of seasonally adjusted unemployed individuals decreased by 862 to 104,350 from November 2018.
Industries that showed the largest gains for seasonally adjusted jobs:
— Construction gained 3,100 jobs from December 2017 and 500 jobs from November 2018.
— Manufacturing gained 5,100 jobs from December 2017 and 400 jobs from November 2018.
— Financial Activities gained 3,000 jobs from December 2017 and 800 jobs from November 2018.
— Leisure and Hospitality gained 2,400 jobs from December 2017 and 100 jobs from November 2018.
— Mining and Logging gained 700 jobs from December 2017, but remained unchanged from November 2018.
Metropolitan Statistical Areas (MSAs)
Among Louisiana’s MSAs, seasonally adjusted data shows:
— Alexandria gained 200 jobs from December 2017 and 200 jobs from November 2018.
— Baton Rouge gained 5,200 jobs from December 2017, but lost 500 jobs from November 2018.
— Hammond gained 700 jobs from December 2017 and 100 jobs from November 2018. The Hammond MSA is at an all-time record for employment.
— Houma lost 700 jobs from December 2017 and 100 jobs from November 2018.
— Lafayette gained 2,200 jobs from December 2017 and 800 jobs from November 2018.
— Lake Charles gained 3,900 jobs from December 2017, but remained unchanged from November 2018. The Lake Charles MSA is at an all-time record for employment.
— Monroe gained 600 jobs from December 2017, but remained unchanged from November 2018.
— New Orleans gained 12,600 jobs from December 2017 and 1,800 jobs from November 2018.
— Shreveport gained 100 jobs from December 2017, but lost 500 jobs from November 2018.
The not seasonally adjusted unemployment rate decreased by 0.2 percentage points to 4.3 percent from November 2018. As it stands, the 2018 not seasonally adjusted unemployment rate annual average is 4.8 percent. When compared to other historical not-seasonally adjusted unemployment rate annual averages, this is Louisiana’s third lowest annual average in the series history.

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