Louisiana has many fantastic resources with educated people, eccentric culture, robust ports, abundant oil and gas production, and much more yet poor public policies stifle this potential, highlighted by job losses in July 2023. The Pelican Institute’s “Comeback Agenda” shows the path forward to let people prosper.
Table 1 provides Louisiana’s key labor market information over time, including the latest data for July 2023 that was recently released by the U.S. Bureau of Labor Statistics.
These data indicate some strength on the surface, but we must look deeper to see how Louisianans are really doing in this economy.
Louisiana’s unemployment rate is lower but for the wrong reasons as people continue to leave the labor force.
Overview of the labor market in industries in Louisiana.
Compared with neighboring states based on several measures there continue to be major concerns with the labor market and other areas in Louisiana. Another one of those is economic growth.
Table 2 shows how the U.S. and Louisiana economies performed since 2020, as reported by the U.S. Bureau of Economic Analysis.
Vance Ginn, Ph.D.