Lafayette Jobs Report

September 2018 Jobs Report

Jobs Added

Metro -600
  • Month Over Month: -0.3%
  • 3 Month Average: -100
  • Year Over Year: 0.0%
State +100
  • Month Over Month: 0.0%
  • 3 Month Average: -200
  • Year Over Year: +1.0%
National +250,000
  • Month Over Month: +0.2%
  • 3 Month Average: 218,000
  • Year Over Year: +1.7%

Unemployment Rate

Metro 5.0%
  • Month Over Month: -0.5%
  • 3 Month Average: 5.47%
  • Year Over Year: -0.2%
State 5.0%
  • Month Over Month: 0.0%
  • 3 Month Average: 4.97%
  • Year Over Year: +0.2%
National 3.7%
  • Month Over Month: 0.0%
  • 3 Month Average: 3.77%
  • Year Over Year: -0.4%

5 Things to know about the national job report

The Bureau of Labor Statistics reported October’s unemployment rate remained flat at 3.7% with 250,000 jobs added. Though Hurricane Michael made landfall in Florida on October 10 – during the reference periods for this survey – the BLS does not feel the storm had any discernible effect on the job numbers for October.

Regionally, the Bureau of Labor Statistics breaks down the state and metro unemployment rates one month behind the national breakdown. Those numbers will be released mid-month every month.

September and October’s 3.7% unemployment rates mark the lowest unemployment has been since 1969. Also noteworthy is the fact that open jobs have outpaced workers every month of 2018 since March. With Black Friday around the corner, employers have a problem.

Our Senior Vice President, Amy Glaser, spoke with CNN about this issue, stating that employers are starting to give additional hours to existing employees, rather than trying to search for more of them. This not only helps overcome the labor shortage obstacle but also helps employers side-step the additional training and recruiting that accompanies new hires.

Here are 5 other things to know about October’s jobs report:

1. The Wage Game: Employee earnings rose another 5 cents in October, following an 8 cent increase in September, putting wage growth year-over-year at 83 cents, or 3.1%. According to The New York Times, American workers are earning nearly $1 more per hour on average than they were a year ago.

2. Untapped Work Groups: With the holidays upon us and the labor shortage in full effect, some employers may start turning to untraditional work groups to fill their open positions – that is, if they can lure them. We’ve written about the Aging Workforce, as well as what lured workers back to work in the last 3 years that were previously retired in our 2018 Workforce Report. Targeting retirees, stay-at-home parents, and other untraditional workers may be the key to meeting this year’s holiday demand.

3. Blue Collar Burst: Blue collar jobs – specifically those in manufacturing, construction, and mining – have added jobs every month for more than a year now. In October alone, manufacturing contributed 32,000 of the job increases, with construction adding 30,000 and mining adding 5,000.

4. Rising Rates: According to Business Insider, October’s healthy jobs report cements the fact that the Federal Reserve will raise interest rates come December. This, coupled with continued wage growth, may cause additional worry to investors and their concerns about inflation. Only time, and how often the stock market makes headlines again over the next month, will tell.

5. Healthy Health Care: Health care jobs rose by 36,000 in October, a 10,000 increase from September’s 26,000. Hospitals accounted for 13,000 of those jobs, while nursing and care facilities accounted for 8,000. Over the year, the industry has increased by over 323,000 jobs.

Local Industry Job Growth from the B.L.S.

Finance & Insurance -900
  • From Last Month: -1.5%
  • 3 Month Average: 61
  • From Last Year: -2.9%
Telecommunications -100
  • From Last Month: -1.2%
  • 3 Month Average: 9
  • From Last Year: -5.6%
Accommodation & Food Services -200
  • From Last Month: -1.0%
  • 3 Month Average: 19
  • From Last Year: 0.0%
Manufacturing 0
  • From Last Month: 0.0%
  • 3 Month Average: 16
  • From Last Year: +4.0%
Retail Trade -100
  • From Last Month: -0.4%
  • 3 Month Average: 27
  • From Last Year: -1.1%
Transportation & Warehousing +600
  • From Last Month: +0.8%
  • 3 Month Average: 72
  • From Last Year: +1.4%
Transportation Equipment Manufacturing +100
  • From Last Month: +1.2%
  • 3 Month Average: 9
  • From Last Year: -5.5%
Goods Producing 0
  • From Last Month: 0.0%
  • 3 Month Average: 39
  • From Last Year: +0.8%

U.S. Job Growth for All Sectors

Local Job Reports cannot vouch for the data or analyses derived from these data after the data have been retrieved from