Data released last week by the Bureau of Labor and Statistics (BLS) shows that Louisiana’s seasonally adjusted unemployment rate decreased to 4.4 percent in May 2019, which places Louisiana in full employment status, according to BLS.
The Federal Reserve defines full employment as an unemployment rate between four percent and 4.6 percent. This is the lowest seasonally adjusted unemployment rate since April 2008. This figure is .6 percent points lower from May 2018’s rate of 5.0 percent, and down from April 2019’s rate of 4.5 percent.
From May 2018, seasonally adjusted non farm employment increased by 1,900 to 1,982,200 in May 2019. For May 2019, seasonally adjusted non farm employment has added jobs over the year for the past 15 months in a row.
Since May 2018, seasonally adjusted private sector employment has increased by 3,000 jobs to 1,656,300 in May 2019. Seasonally adjusted private sector employment in May 2019 has also added jobs over-the-year for the past 15 months.
The number of seasonally adjusted employed individuals increased by 4,611 from 2,001,128 in May 2019. From April 2019, the number of seasonally adjusted employed individuals increased by 1,206.
The number of seasonally adjusted unemployed individuals decreased by 12,907 from 105,087 in May 2018, to 92,180 in May 2019. From April 2019, the number of seasonally adjusted unemployed individuals decreased by 2,571.
Industries that showed the largest gains for seasonally adjusted jobs n May 2019:
* Manufacturing gained 2,500 jobs from May 2018 and 400 jobs from April 2019.
* Leisure and Hospitality gained 3,900 jobs from May 2018 and 1,600 jobs from April 2019.
* Education and Health services gained 9,000 jobs from May 2018 but lost 100 jobs from April 2019.
Monroe remained unchanged from May 2018, but gained 100 jobs from April 2019.