Acadiana’s unemployment rate hit 13.1% for the month of April, a 228% increase over April of 2019. The sharp increase in regional unemployment mirrors those experienced by Louisiana and the U.S. as almost 84,000 initial unemployment claims have been filed in Acadiana since March 1.
The price per barrel of oil continues its rebound after dropping below $0 in April. May’s average price per barrel is approximately $28, down 55% from May of 2019.
Lafayette Regional Airport’s (LFT) enplanements continued to decline, totaling just 1,605 for the month of April. This represents a 93% decrease from April of the previous year. LFT’s enplanements during the month of May are on the rise as the week of May 17 – May 23 experienced a 9-week high with 1,133 passengers passing through the TSA’s checkpoint.
Lafayette Parish hotel occupancy hit approximately 39% for the week of May 17 – May 23. Although occupancy is down 33% from the previous year, this represents a 10-week high. Hotel revenue is down 45% from the previous year, but is also trending in the right direction, hitting a 10-week high over the same time period.