Region’s unemployment rate lowest on record
Baton Rouge, LA (February 10, 2022) – The Baton Rouge Area Chamber (BRAC) today released its monthly economic indicator dashboard that examines and analyzes the state of the regional economy. To download this month’s indicator dashboard directly, click here.
“The region is within 2.1% of a full jobs recovery, and job postings in December were up 45% year-over-year. With a historically low unemployment rate and a tight labor market, employers should increasingly be looking to deepen their talent pipeline by engaging with our regional higher education institutions, creating paid internship programs, and retaining those students as full-time employees after graduation,” said Andrew Fitzgerald, senior vice president of business intelligence for BRAC.
Key findings from this month’s dashboard include:
- The Baton Rouge Metro’s 3.2% unemployment rate is the region’s lowest in recorded history;
- Job postings outnumber unemployed workers more than 2-to-1;
- Three important industries (Professional Services, Education/Healthcare, and Trade/Transportation/Utilities) have more jobs now than pre-pandemic;
- The hotel occupancy rate for the week ending January 22 was nearly 8% higher than the national average;
- Residents in the Capital Region’s two largest commuter parishes (Livingston and Ascension) are traveling to work more frequently now than pre-pandemic; and
- Louisiana State University and Southern University are hotbeds for in-demand talent: the two universities combine for 10,400+ students across technical disciplines like nursing, biology, mechanical engineering, and computer science.
Employers interested in tapping into student talent within the region are encouraged to create a free employer profile on Handshake, the platform that the region’s higher education institutions (LSU, Southern, BRCC, RPCC, and FranU) are promoting on campus. More information about Handshake, the regional partnership behind it, and how to create a profile can be found at brac.org/handshake.
BRAC also recently announced the launch of BR Works, the region’s first and only regional jobs portal. The site automatically sources every open position within the region and directs jobseekers to positions that match their skillset and experience level.
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.
BRAC’s business intelligence team 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 may contact Senior Vice President of Business Intelligence Andrew Fitzgerald at email@example.com.
About the Baton Rouge Area Chamber
The Baton Rouge Area Chamber (BRAC) leads economic development in the nine-parish Baton Rouge Area, working to grow jobs and wealth and to improve the business climate and competitiveness in the region. Today, BRAC investors include more than 1,500 small businesses, mid-sized firms, large industry and entrepreneurial startups, as well as individuals and organizations that support business and economic development. In this capacity, BRAC serves as the voice of the business community, providing knowledge, access, services and advocacy. More information is available at brac.org.