MAY EMPLOYMENT IN SHREVEPORT BOSSIER DECLINES
The news from the Bureau of Labor Statistics (BLS) for May was good for the state. But not good for Shreveport Bossier.
Louisiana’s seasonally adjusted unemployment rate decreased to 4.4% in May. This puts the state unemployment rate at an eleven year low.
The Shreveport Metropolitan Statistical Area (MSA) reflected a loss of 300 jobs since April of this year. The total job loss from May 2018 was 2700.
The Shreveport MSA unemployment rate for April was 4.7%. The May rate has not been reported yet by the BLS. Shreveport’s unemployment rate had declined from 5.2% in December 2018.
The MSA covers four parishes: Caddo, Bossier, Webster, and De Soto. As of the 2010 census, the MSA had a population of 439,000. The U.S. Census Bureau’s 2017 estimate for the metro area is 440,933.
The BLS breakdown of increases/decreases in employment for the Shreveport MSA:
Total Nonfarm: -1.6
Mining and Logging: -17.6
Construction: -4.9
Manufacturing: 1.0
Trade, Transportation, and Utilities: -0.8
Information: -9.5
Financial Activities: 0.0
Professional and Business Services: -2.1
Education and Health Services: 0.3
Leisure and Hospitality: -1.3
Other Services: -1.5
Government: -1.7
Louisiana was one of six states with a lower unemployment rate in May. The average for the nation was 3.6 percent. Alaska had the highest May rate at 6.4 percent; Wisconsin was the lowest at 2.8 percent.