Baton Rouge, LA – December 2023 Jobs Report – Mixed Signals amid Steady Gains

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The December 2023 jobs report for Baton Rouge presents a picture of cautious optimism. Preliminary data from the Bureau of Labor Statistics (BLS) suggests continued job growth, but at a slower pace than the previous month. While some sectors showed positive movement, others experienced contraction, reflecting a regional and national economy navigating ongoing adjustments.

Highlights:

  • Employment: Total nonfarm employment in the Baton Rouge MSA reached 431,700, representing an increase of 1,900 jobs from November 2023 and 12,000 jobs from December 2022.
  • Unemployment: The seasonally adjusted unemployment rate remained unchanged at 3.7%, indicating a tight labor market compared to the national average of 3.7%.

Growing Industries and Occupations:

  • Construction and Trade, Transportation, and Utilities: Each of these sectors added 500 jobs, fueled by ongoing infrastructure projects and continued growth in e-commerce and logistics. Positions in construction laborers, transportation attendants, and warehouse associates saw increased demand.
  • Professional and Business Services: This sector grew by 200 jobs, primarily in management, computer occupations, and marketing specialists, reflecting ongoing business expansion and technology adoption.

Shrinking Industries and Occupations:

  • Information: This sector shed 100 jobs, mainly in telecommunications and information services.
  • Mining, Logging, and Construction: Despite overall growth in construction, this sector saw a decline of 200 jobs in mining and logging, likely due to ongoing supply chain disruptions and rising material costs.

Compared to Same Month Last Year:

  • December 2023’s job growth of 0.4% fell short of the 1.1% increase in December 2022, suggesting a moderating pace of expansion.
  • The unemployment rate remained stable at 3.7%, mirroring the national average and indicating a competitive labor market.

Compared to Previous Month:

  • December 2023 saw lower job gains than November 2023, potentially reflecting seasonal fluctuations or adjustments to initial estimates.
  • The unemployment rate remained unchanged, signifying a steady labor market.

Future Outlook:

While economists predict continued job growth for Baton Rouge in 2024, the pace might be slower than 2023. Expansion in healthcare, professional services, and energy could fuel job creation, but national economic headwinds like inflation and rising interest rates remain a concern.

10 Growing Occupations:

  1. Registered Nurses
  2. Software Developers and Applications
  3. Warehouse Associates
  4. Customer Service Representatives
  5. Truck Drivers
  6. Personal Care Aides
  7. Marketing Specialists
  8. Construction Laborers
  9. Sales Representatives
  10. Teachers

10 Companies Hiring Now:

  1. Wells Fargo
  2. Kaiser Permanente
  3. Baton Rouge General Medical Center
  4. ExxonMobil
  5. Amazon
  6. The Home Depot
  7. Walmart
  8. Costco Wholesale
  9. Dollar General
  10. Stater Bros. Markets

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