Louisiana’s jobless rate keeps falling, but payrolls shrink
NEW ORLEANS (AP) — Unemployment fell for the sixth straight month in Louisiana, but payrolls moved in the wrong direction in October.
The jobless rate fell to 4.8 percent in October from 5.1 percent in September, as more people entered the labor force and more found jobs. Louisiana’s unemployment rate was 6.1 percent a year ago.
About 100,000 Louisianans were jobless, down more than 5,000 from September.
Louisiana’s unemployment rate doesn’t rank among the 10 worst states for the first time in years. October’s U.S. rate fell to 4.1 percent from September’s 4.2 percent.
The separate payroll survey, economists’ top labor market indicator, continued a multi-month downward trend, falling below 1.98 million in Louisiana. That remains 8,000 higher than last October.
The U.S. Labor Department released figures Friday, adjusted to cancel out seasonal changes.