This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

La. Jobless Rate Drops But Payrolls Fall Sharply

By JEFF AMY

Louisiana's unemployment rate dropped to 5.5 percent in December, but a separate survey of payrolls showed significant job losses last month.

Still, it capped a strong year for the state's labor market.

Bureau of Labor Statistics numbers released Friday show Louisiana unemployment fell from 5.8 percent in November and 7 percent in December 2011. Louisiana's jobless rate decreased fifth-most among states in 2012, in percentage point terms, while Nevada saw the largest drop.

The number of unemployed Louisianans fell to 115,000 from 120,000 in November. In December 2011, 144,000 Louisianans were unemployed.

The unemployment rate is calculated by a survey that asks how many people are looking for a job. A second survey each month asks employers how many people are on their payrolls, a measure many economists use as their top labor market indicator.

Louisiana payrolls fell by 11,000 jobs to 1.95 million, the third-largest decrease in the nation. In percentage terms, only Hawaii saw a larger drop.

But that reverse followed November's leap of 15,000 jobs, which brought payrolls to an all-time high of 1.96 million. The 1.95 million nonfarm employees in December remained near the historic peak. For the year, payrolls rose by 24,000 from 1.93 million in December 2011.

Payrolls fell in December across almost every sector of Louisiana's economy except professional and business services, which was flat.

"Our workforce continues to grow and get stronger, and that helps employers grow and prosper in our state," Louisiana Workforce Commission Executive Director Curt Eysink said in a statement. "Louisiana has become one of the best states where you can get a job or grow a business."

Overall, unemployment rates fell in 22 states, rose in 16 and were flat in 12. Nevada and Rhode Island tied for the highest unemployment rate at 10.2 percent, and North Dakota kept the lowest at 3.2 percent.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.85 +162.29 1.00%
S&P 500 1,862.31 +19.33 1.05%
NASDAQ 4,086.2250 +52.0640 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs