The Louisiana Workforce Commission has released its year-end analysis of jobs and job growth for Louisiana in 2010 and the numbers look pretty good. Overall, the state of Louisiana added 26,500 jobs for the full year as private sector job growth more than offset a reduction in government sector positions. This lowered the unemployment rate for Louisiana to 8% in December (down from 8.2% in November).
If you drill down a bit further into those numbers you can see how Baton Rouge was affected. The private sector added around 2,500 jobs during 2010 which helped to offset the continued, expected reduction in government sector jobs. For December specifically, Baton Rouge added a net of 200 jobs. These numbers show that the private sector is generating jobs in Baton Rouge which has been reflected in the job growth numbers trends for the last 7 months. The unemployment rate for East Baton Rouge Parish has now dropped to 6.8% as compared with the national rate of 9.4%
It appears that these job growth trends in Baton Rouge are correlating with some of the same trends in the housing market. I created a post detailing out the home sales trends in Baton Rouge - click here to access that post - and what was most interesting to me was the trend line for the last 3 months of 2010. You normally see a very definitive decrease in home sales from October to November to December with each month have fewer sales than the prior month. If you look at the trends for 2010, you will see the exact opposite trend and I don't think it is coincidental.
Real estate is local and is almost always tied directly to the health of the local job market. I think it is very encouraging to see both the job market and the housing market trending upward. I'm hopeful that it bodes well for a great 2011!
If you are contemplating buying a home in Baton Rouge, it is still a great time. Interest rates are very good and there is plenty of available inventory to choose from.
If you are thinking about selling you home in Baton Rouge, then you must make sure that your home is properly positioned in the sales market. Because there is so much competition, you need to make sure you home stands among its peer group and is conditioned for successful selling. I'm happy to share my tips and suggestions for getting your home ready to sell - just give me a call.
If you are looking to purchase or sell a home in Baton Rouge - I'm here to help you through that process. Just give me a call at 225.287.9448 or send me an e-mail at Quinton@BatonRougeAreaHomes.com and let's get started today!
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