Monday, December 18, 2017

University of New Orleans Releases December 2017 Edition of the Metro Report

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Employment in the New Orleans metropolitan area grew slowly during the first three quarters of 2017, according to the latest edition of the Metropolitan Report from the University of New Orleans. During that time, employment increased 0.2 percent year to date, in comparison to a 0.1 percent decrease during all of 2016. In the third quarter of 2017, metro New Orleans added 1,467 jobs over the same quarter last year, the report found.

The Metropolitan Report, compiled by the Division of Business and Economic Research contains analysis of recent trends and the short-term outlook for the eight-parish area of Jefferson, Orleans, Plaquemines, St. Bernard, St. Charles, St. James, St. John the Baptist and St. Tammany parishes.

Here are some highlights from the December 2017 Metropolitan Report:

• In the third quarter of 2017, the metro area added 1,467 jobs over the same quarter last year and 1,144 jobs year-to-date. The largest industries, in terms of number of jobs year-to-date 2017, are leisure and hospitality, professional and business services, health care and social assistance, government, and retail trade.

• Personal income has grown at a similar pace both locally and nationally. The U.S. reported a 2.9 percent growth year-to-date, while the New Orleans area grew 2.5 percent.

• Between 2006 and 2011, the New Orleans metro area experienced strong growth in population. Since then, population has become stagnant, growing less than 1 percent annually. Recent estimates (2017 Q3) indicate that population was up 0.5 percent over the same period last year.

• In the first quarter of 2017, two out of the eight individual parishes in the metro area reported employment growth over the same quarter in the previous year. The parishes were St. Tammany (605 jobs or 0.7 percent) and St. John (354 jobs or 2.5 percent).

• The remainder of the parishes in the metro area lost jobs in Q1 2017 over the same quarter in 2016. Orleans lost the highest number of jobs (2,990 jobs or 1.5 percent), followed by St. Charles (2,953 jobs or 10.9 percent), Jefferson (1,132 jobs or 0.6 percent) and Plaquemines (1,013 jobs or 7.4 percent). Jobs losses at a smaller scale were reported in St. James (187 jobs or 2.4 percent) and St. Bernard (75 or 0.7 percent).

To read the entire December 2017 Metro Report, click here.

The Division of Business and Economic Research (DBER) at the University of New Orleans provides a wide range of research-related services to businesses, government agencies, media, nonprofit organizations and others. Principally known for its economic analysis and forecasts, the DBER has also conducted research studies on a number of other important issues. Examples of such work include visitor profiles, forecast of tourism indicators, customer satisfaction surveys, economic impact studies and analysis of casino gambling impacts.