BRAC releases economic updates in monthly dashboard
Baton Rouge, LA (August 10, 2023) – The Baton Rouge Area recorded a high of manufacturing jobs in June 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.
“This month’s dashboard shows that job postings are up 7.5% over the last year and Baton Rouge’s labor force is 4% larger than it was at the beginning of the COVID pandemic despite the thousands of workers that chose to retire early,” said Jake Polansky, BRAC manager of economic and policy research. “Additionally, there were more manufacturing jobs in Baton Rouge in June than there have been at any point going back to the ‘90s. Perhaps the best news out this month is that eleven of the Capital Region’s thirteen school districts saw their average LEAP scores improve over the last year, and the state’s top four districts – Ascension, Central, West Feliciana, and Zachary – can all be found in the Capital Region.”
Key findings from this month’s dashboard include:
- Baton Rouge’s manufacturing sector hit an all-time high with 30,900 jobs in June;
- The Capital Region’s labor force is about 4% bigger than it was at the beginning of the COVID pandemic;
- Baton Rouge lost 4,700 jobs in June, largely driven by reduced summer headcounts in local public schools and at higher education institutions;
- Hotel revenues were higher in mid-July than in past years;
- After increasing to 4.0% this month, the metros’ unemployment rate is higher than out-of-state peer metros but lower than in-state peer metros; and,
- Eleven of the Capital Region’s thirteen school districts saw their LEAP score averages improve over the last year.
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.