It’s Labor Day. So what does the labor market look like in Louisiana? We asked University of Louisiana at Lafayette Economist Gary Wagner who says labor market conditions are looking favorable.
“So far through July of this year, the state is averaging about 2.900 new jobs a month which is about double the historical rate, so right we are still adding jobs at a pretty good clip,” said Wagner.
Wagner says we are seeing job gains in construction, education, and health services. He says there’s also been an uptick in the oil and gas sector.
“Oil prices just hit $85 a barrel, so starting to see a bit more activity, there is also expected to be more activity in the gulf, with the federal sale permits, so that could have something to do with this as well,” said Wagner.
Labor numbers show Baton Rouge, New Orleans, and Lafayette are the strongest areas for employment. While Lake Charles, Houma-Thibodaux, and Alexandria are struggling. Wagner says labor market figures show higher than normal turnover in sectors like leisure and hospitality, and professional business services.
“That’s also a sign of labor market strength, people tend to switch jobs when they think there are better opportunities out there, we are still seeing a lot of movement that’s way above what we normally would,” said Wagner.
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