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New Orleans Area Economic Summary Updated September 03, 2021 This summary presents a sampling of economic information for the area; supplemental data are provided for regions and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area summaries and geographic definitions, see www.bls.gov/regions/economic-summaries.htm.

Unemployment rates for the nation and selected Average weekly wages for all industries by areas area, first quarter 2021 (U.S. = $1,289; Area = $1,098) Unemployment rates

10.5 5.7

11.9 New Orleans area 7.6

11.4 Jefferson Parish 7.0

15.1 Orleans Parish 10.3

9.6 St. Charles Parish 5.6

St. Tammany 8.1 Parish 4.3

0.0 4.0 8.0 12.0 16.0 Jul-20 Jul-21 Source: U.S. BLS, Local Area Unemployment Statistics. Source: U.S. BLS, Quarterly Census of Employment and Wages.

Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector

Change from Jul. 12-month percent changes in employment New Orleans area employment Jul. 2021 2020 to Jul. 2021 16.0 (number in thousands) Number Percent 12.0 New Orleans area United States Total nonfarm 529.7 23.3 4.6 8.0 Mining and logging 3.5 -0.3 -7.9 4.0 Construction 24.8 -1.3 -5.0 0.0 Manufacturing 28.7 0.1 0.3 -4.0 Trade, transportation, and utilities 104.8 3.4 3.4 Information 5.4 0.7 14.9 -8.0 Financial activities 28.4 -1.1 -3.7 -12.0 Professional and business services 71.5 3.8 5.6 -16.0 Education and health services 102.6 4.8 4.9 -20.0 Leisure and hospitality 69.2 13.1 23.4 Jul-18 Jul-19 Jul-20 Jul-21 Other services 21.9 1.2 5.8 Government 68.9 -1.1 -1.6 Source: U.S. BLS, Current Employment Statistics. Source: U.S. BLS, Current Employment Statistics. Over-the-year change in the prices paid by urban Over-the-year changes in the selling prices received by consumers for selected categories producers for selected industries nationwide

12-month percent change in CPI-U, July 2021 12-month percent changes in PPI 30.0 24.0 26.9 General freight trucking 23.8 Hospitals 25.0 West South Central 18.0 U.S. city average Marine cargo handling 20.0 12.0 15.0 6.0 10.0 5.7 5.4 5.0 2.9 3.4 0.0

0.0 -6.0 All items Food Energy Jul-18 Jul-19 Jul-20 Jul-21 Source: U.S. BLS, Consumer Price Index. Source: U.S. BLS, Producer Price Index.

Average annual spending and percent distribution Average hourly wages for selected occupations for selected categories New Orleans United Occupation South average annual expenditures, 2019 area States All occupations $24.05 $27.07

All other Human resources managers 51.44 64.70 items $10,015 Housing Registered nurses 34.10 38.47 17.1% $18,781 Healthcare 32.0% $4,982 8.5% Accountants and auditors 33.52 39.26

Construction laborers 16.66 20.67 Trans- Personal Food portation insurance & $10,665 Retail salespersons 12.85 14.87 pensions $7,616 13.0% 18.2% $6,563 Cooks, fast food 9.75 11.68 11.2% Total: $58,622 Source: U.S. BLS, Consumer Expenditure Survey. Source: U.S. BLS, Occupational Employment and Wage Statistics, May 2020.

Employer costs per hour worked for wages and Over-the-year changes in wages and salaries selected employee benefits by geographic 12-month percent changes in ECI Private industry, West South United March 2021 Central (1) States 4.0 Total compensation $31.35 $36.64 Wages and salaries 22.82 25.80 3.0 Total benefits 8.53 10.83 Paid leave 2.13 2.72 2.0 Vacation 1.06 1.39 Supplemental pay 1.25 1.27 Insurance 2.01 2.83 1.0 Retirement and savings 0.84 1.25 West South Central United States Legally required benefits 2.30 2.77 0.0 (1) The states that compose the West South Central census division are: AR, Jun-18 Jun-19 Jun-20 Jun-21 LA, OK, and TX. Source: U.S. BLS, Employer Costs for Employee Compensation. Source: U.S. BLS, Employment Cost Index.

Southwest Information Office • BLSinfoDalla[email protected] • https://www.bls.gov/regions/southwest • 972-850-4800