If the figures hold until revised data are released next week, it would mean the number of jobs in the area has declined by 200 since the year began.
The metro area, comprised of
Other indicators have shown the Gulf oilfield has been stabilizing after years of decline. Bidding was up during this week’s oil lease sale compared to the last one in March, though companies sought the right to drill in only about 1 percent of the acreage the federal government offered.
For almost all of 2018, oil has traded above $60 a barrel, a figure widely cited as the break-even point for most Gulf deepwater operations. West Texas Intermediate crude, the
“The operating environment in the
Though “not a barn burner,” the sale results “reaffirm the paradoxical state of an offshore energy industry in slow recovery mode,” he said. “The future is bright, but shifting out of reverse takes time.”
The Gulf rig count stood at 19 this week, up one for the week and seven, or nearly 60 percent, since March, according to figures released today by the
The latest figures, released today, are adjusted for seasonal variations, including temporary jobs businesses add or eliminate routinely at certain times of the year.
Louisiana’s unemployment rate rose in July for the fourth consecutive month and now ranks third highest in the nation. The jobless rate of 4.9 percent was up from 4.7 percent in June but down from 5 percent a year earlier.
The nation’s jobless rate was 3.9 percent in July, down from 4 percent in June.
— Executive Editor
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