Business Report
Median worker pay has risen 9% in Louisiana since December 2020, with the median annual salary sitting at $53,200 in August, according to the latest economic indicator report from the Baton Rouge Area Chamber.
Louisiana’s median annual salary is higher than several Southeastern states including Alabama, North Carolina and Florida, according to BRAC. However, in the Capital Region, while there have been job gains in a range of fields, construction and government are still struggling, says Andrew Fitzgerald, senior vice president of business intelligence for BRAC, though he indicates there is room for optimism.
“Considering the billions of dollars in announced capital expenditures … there is strong reason for optimism regarding future construction jobs,” Fitzgerald says. “While the economy has permanently changed in some ways, the region can expect its job count to right-size sooner than later.”
Key findings from this month’s economic dashboard include:
- Baton Rouge added 900 jobs in July, putting the metro up 10,500 jobs year over year.
- Professional services, education and health care, and leisure and hospitality combined for big job gains this month; construction remains 17.1% below its pre-pandemic job count.
- Initial unemployment claims have fallen 48% since mid-July, so next month’s unemployment rate may be lower than the current 4.1%.
- Baton Rouge and three peer metros added jobs in July.
Workplace travel was above pre-pandemic levels in Ascension and Livingston parishes this month while remaining below in East Baton Rouge. See the report.