Overall unemployment rate moved down to 3.8% with the biggest shift in Government, which gained 1,800 roles, based on the most recently available information published in November 2022.
Total employment in the New Orleans-Metairie, LA market rose by 6,570 jobs in September and the unemployment rate decreased compared to the prior month by 30 bps to 3.8%. The national unemployment rate decreased by 47 bps over the same time to 3.3%.
- New Orleans-Metairie, LA unemployment rate is 48 bps above the national rate which is a negative sign.
- Unemployment in the market is 250 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) declined in September versus prior month by -1.2% and are down 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: 106,200; +200
- Transportation & Utilities: 103,800; -100
- Business Services: 81,300; +1,000
- Restaurants & Hotels: 78,100; +400
- Government: 67,200; +1,800
- Construction, Mining: 34,400; +900
- Manufacturing: 30,300; +400
- Financial Services: 28,300; -100
- Other Jobs: 21,900; no change
- IT & Development: 8,500; -100
Data is based on the most recent 12 months available, through September 2022 (Data published November 2022 and reports created on November 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.