Louisiana loses jobs in chemicals

The Associated Press

As Louisiana failed to sustain much employment growth over the past year, two key economic and well-paying sectors — the oil support industry and chemical manufacturing — took major hits, the state labor department reported July 26.

Figures from the goods-producing sector, which had an overall loss of 5,900 jobs, reflected two situations slowing the economy: a lack of sustained drilling in the Gulf of Mexico, and layoffs in the chemical industry, which has been hurt by high natural gas prices.

Oil support firms lose 1,600 jobs

Oil support businesses lost 1,600 jobs from June 2003 to the end of last month, while chemical manufacturing — one of the highest average paying jobs in Louisiana — dropped 1,000 jobs.

The chemical industry already has warned that more layoffs are on the horizon. The domestic chemical business — inside and outside of Louisiana — has been dealing with foreign competition taking advantage of lower gas prices overseas.