Louisiana Unemployment Rate
The unemployment rate is a way for the Bureau of Labor Statistics to keep track of the amount of workers who are jobless compared to the entire labor force as one. The jobless rate are calculated is through two separate surveys conducted on a monthly basis. When determining the unemployment rate, the total number of jobless individuals – those without part-time or temporary work even – is then divided into the total amount of labor workers as a whole. Once that figure is multiplied by 100, then the percentage point is calculated. Economists and government officials use the unemployment rate to determine the economic standing of a state, in order to make predictions in terms of the employment sector and potential unemployment insurance beneficiaries. The jobless rate also can be used to compare how the economy on a state level is affecting the economy on a national level.
What is the unemployment rate in Louisiana?State residents curious as to what is the unemployment rate in Louisiana may be surprised by the answer. The unemployment rate in Louisiana, as of May 2017, fell to 5.7 percent, down 0.1 percent from April 2017. This is still a high jobless rate, especially considering the national rate of 4.3 percent. While many other states have seen sharp decreases in the number of unemployed workers in 2017 versus the same time last year, Louisiana has not. As of May 2016, the unemployment rate in Louisiana was at 6.2 percent. Unfortunately, Louisiana’s jobless rate is the third-highest in the United States, coming in close to Alaska with 6.7 percent. Despite the fact Louisiana is ranked poorly in comparison with the rest of the country, there has been improvements in payroll levels, with an addition of over 10,000 jobs since last year.
However, for those still finding difficulty with unemployment in Louisiana, unemployment insurance benefits are an option. Eligibility requirements differ from state to state, so it is important to understand the requirements for Louisiana residents prior to application.