Louisiana Department of Labor reports drop in unemployment rate

New Orleans CityBusiness, Dec 1, 2003 by Staff

The Louisiana Department of Labor last week reports a drop in the unemployment rate to 5.5% in October from 6.1% the month before. The rate dropped in all 64 parishes for the second month in a row, according to the report. In New Orleans, the unemployment rate dropped to 6% in October from 6.5% in September.

The October rate of employment in the eight-parish area is up 4.3% over the same month in 2002. The employment rate increased by .5%, with 577,600 employed in October compared to 574,400 the month before.