More Louisiana Jobs Create Higher Unemployment Numbers
There is a bit of irony in the news that Louisiana has more people working than ever before. The fact that more people are working and there are even more jobs available is actually causing the unemployment rate in the state to climb. You probably furrowed your brow and tilted your head trying to comprehend that last statement, trust me I did to.
It seems to me that more jobs and more people working would make that unemployment rate go down. The fact that it doesn't is why so many of us are skeptical of government reports but once you hear the explanation I think you'll feel better.
"We have more jobs than ever before, more people working than ever before, and the number of people available to work is bigger than it's ever been in Louisiana,"
The total of employed people in the state is now 1,988,900 and that is an all time high. Private employment jobs have increased by 31-thousand over the past year. Why would those numbers mean an increase in unemployment?
You have to understand how unemployment figures are tabulated. They don't just count people who don't have a job, they only count people who are currently looking for work and can't find it. There is an entire subculture of the economy that has just said to heck with it and has given up on finding employment. The good news in this report is the fact that there are so many jobs now available more and more people are back in the market looking for work. Eyesink explains,
"To people who are now thinking, well maybe I'll get back into the workforce there are jobs there. And I think we are seeing people maybe moving into Louisiana for the jobs that we have,"