BRAC releases economic updates in monthly dashboard
Baton Rouge, LA (November 9, 2023) – The Baton Rouge Area hit a new jobs record in September with more than four hundred twenty-six thousand jobs according to the monthly economic indicator dashboard released today by the Baton Rouge Area Chamber (BRAC). The dashboard, which examines and analyzes the state of the regional economy, can be downloaded directly here.
“Baton Rouge was an engine for job creation through the first three quarters of 2023. The Capital Region hit a new jobs record in September with more than four hundred twenty-six thousand jobs, an increase of more than thirteen thousand jobs since last September,” said Jake Polansky, BRAC manager of economic and policy research. “The construction sector is driving much of this growth. With nearly 20% more construction jobs than the Capital Region had last year, the Baton Rouge Metro ranks first among the nation’s 358 metros for job growth in construction. As the region continues winning transitional energy projects, total jobs in this high-paying sector will continue to grow. With many of these jobsites located in areas lined with industrial facilities, making sure these workers can get to work in a reasonable amount of time is as important as ever. Infrastructure improvements like the I-10 widening project and building the region’s fourth Mississippi River Bridge will help our workforce move around the region more efficiently, cut commute times, and improve quality of life for our region’s labor force.”
Key findings from this month’s dashboard include:
- Baton Rouge’s construction sector ranks first out of the nation’s 358 metros for year-over-year job growth;
- The Baton Rouge Metro added 4,900 jobs in September, up 3.2% from this time last year;
- Baton Rouge and Lafayette have added a combined 3,300 jobs in health care over the last twelve months;
- Job postings declined sharply for the second straight month;
- LSU and Southern home football games are driving high occupancy rates in local hotels; and,
- The average commute in the Capital Region is about the same as those in peer metros.
BRAC’s Economic Indicator Dashboard looks at a number of data points to illustrate the economy’s current state. With data from a number of regional stakeholders, the dashboard is the most real-time analysis of the Baton Rouge metro economy available.
Riverbend Research, BRAC’s standalone research consulting firm, provides custom research services on a competitive fee-for-service basis, including labor market research, economic impact modeling, demographic and economic data, and general research and consulting. Interested businesses can learn more or submit research project requests at riverbendresearch.org.
About the Baton Rouge Area Chamber
The Baton Rouge Area Chamber (BRAC) is an aggressively ambitious regional economic development organization with a bias for action. BRAC seeks to push Baton Rouge beyond the status quo, unleash its potential, and support a vibrant business community that believes the finish line does not exist. BRAC seeks to accelerate economic opportunity in the Baton Rouge Area, for everyone, through BRING IT! Baton Rouge, its five-year, regional strategic plan. Learn more about BRAC at brac.org.