Overall unemployment rate moved down to 3.3% with the biggest shift in Restaurants & Hotels, which gained 1,500 roles, based on the most recently available information published in December 2022.
Total employment in the New Orleans-Metairie, LA market rose by 3,177 jobs in October and the unemployment rate decreased compared to the prior month by 50 bps to 3.3%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- New Orleans-Metairie, LA unemployment rate is 10 bps below the national rate which is a positive sign.
- Unemployment in the market is 180 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 3.7% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs grew by 0.8% . Key sectors include:
- Education & Healthcare: 107,600; +1,200
- Transportation & Utilities: 104,700; +1,000
- Business Services: 82,800; +1,400
- Restaurants & Hotels: 80,500; +1,500
- Government: 67,700; +500
- Construction, Mining: 33,400; -1,200
- Manufacturing: 30,300; +100
- Financial Services: 28,500; +100
- Other Jobs: 21,800; -200
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.