Overall unemployment rate moved up to 3.5% with the biggest shift in Transportation & Utilities, which lost 1,400 roles, based on the most recently available information published in March 2023.
Total employment in the Houma-Thibodaux, LA market declined by 625 jobs in January and the unemployment rate increased compared to the prior month by 30 bps to 3.5%. The national unemployment rate increased by 60 bps over the same time to 3.9%.
- Houma-Thibodaux, LA unemployment rate is 36 bps below the national rate which is a positive sign.
- Unemployment in the market is 70 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in January versus prior month by 14% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -3.7%. Key sectors include:
- Transportation & Utilities: 19,900; -1,400
- Government: 10,000; no change
- Construction, Mining: 9,800; -300
- Restaurants & Hotels: 7,700; -100
Data is based on the most recent 12 months available, through January 2023 (Data published March 2023 and reports created on March 17, 2023). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.