Business Report
Job losses in the Baton Rouge area in June were concentrated in the government sector, though that is likely due to seasonal employment trends, specifically in public education, according to the latest economic indicators report from the Baton Rouge Area Chamber.
“Although Baton Rouge continues to set regional records for labor demand based on job postings, June saw an increase in unemployment, particularly in the governmental sector,” says Andrew Fitzgerald, senior vice president of business intelligence for BRAC, in a prepared statement. “The Capital Region regularly sees an employment dip from June to August in government jobs, which may be related to seasonal education employment. While most metrics remain strong, jobs numbers stubbornly remain notably off from pre-pandemic, particularly in the construction sector, which remains nearly 15% (6,400 jobs) below its pre-COVID level. Government and construction account for about 85% of the missing jobs from our February 2020 count.”
Key findings from this month’s dashboard include:
- Unemployment jumped up this month, and the increase in initial unemployment claims points to an increase in layoffs.
- The Professional Services and Construction industries lost a combined 2,500 jobs in June.
- The manufacturing industry has added 800 jobs over the last two months, and manufacturing jobs are up 6.8% compared to this time last year.
- While travel to retail and recreation locations is just below pre-pandemic levels, consumer spending remains well above January 2020.
- Revenue per room for Capital Region hotels is up 9% compared to this time last year.
More than half of Louisiana households are having difficulty paying for household expenses, but Baton Rouge residents may be doing better than the statewide averages would indicate due to higher median household incomes. See the report.