Overall unemployment rate moved up to 5.1% with the biggest shift in Restaurants & Hotels, which lost 1,700 roles, based on the most recently available information published in August 2022.
Total employment in the New Orleans-Metairie, LA market rose by 449 jobs in June and the unemployment rate increased compared to the prior month by 100 bps to 5.1%. The national unemployment rate increased by 46 bps over the same time to 3.8%.
- New Orleans-Metairie, LA unemployment rate is 126 bps above the national rate which is a negative sign.
- Unemployment in the market is 300 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in June versus prior month by 4.8% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -0.4%. Key sectors include:
- Transportation & Utilities: 104,600; +600
- Education & Healthcare: 102,600; -800
- Restaurants & Hotels: 77,600; -1,700
- Business Services: 76,500; +100
- Government: 65,400; -1,600
- Construction, Mining: 33,000; +200
- Manufacturing: 29,500; +800
- Financial Services: 28,300; no change
- Other Jobs: 21,700; +300
- IT & Development: 9,000; no change
Data is based on the most recent 12 months available, through June 2022 (Data published August 2022 and reports created on August 3, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.