The local economy continues to slump, even while other similar markets in the state have experienced substantial gains.
The Louisiana Workforce Commission released their economic report for March 2017, and the findings are good for Louisiana, but not for Houma.
The report shows that the state’s unemployment dropped to 5.7 percent in March – the fourth-straight month with a decrease.
The state’s civilian workforce also grew by 7,100 total workers in March – another strong sign of growth for Louisiana’s economy.
But for all the good news around the state, the news wasn’t quite as good locally.
The Houma market lost 1,300 jobs in the past month, thanks to lower than normal oil prices.
The decrease is part of a continuing trend. The report also states that the area is down 5,200 jobs for the year.
But there is reason for hope.
According to the Louisiana Workforce Commission, efforts are under way around the state to recruit unemployed workers and try and match their talents to available positions around Louisiana.
Since the first quarter of 2017, the LWC has been a part of over 150 hiring events. We will continue to help every person find employment, now that citizens are more confident they can find a job,” said Louisiana Workforce Commission Executive Director Ava Dejoie.
Locally, there’s optimism, as well.
Oil prices continue to dip, part of a prolonged slump that’s now lasted for the better part of two years.
But experts in the field still anticipate an eventual comeback, which would put a lot of our labor force back to work – hopefully sooner, rather than later.
To see the full report and all other research done by the LWC, visit www.laworks.net.