02/09 - Economic Development 2009
What effect will falling energy prices have on the state’s economy?
At the end of 2008, Louisiana found itself with an increase in its employment figures and an improving unemployment rate. But how long can the state remain insulated from the national recession? What effect will falling energy prices have on the state’s economy? Which industries provide the best hope for future job growth? Louisiana Public Square goes on the road to Monroe to look at what’s working and what challenges lay ahead on “Economic Development 2009,” Wednesday, February 25th at 7 pm.
Monroe Mayor James E. "Jamie" Mayo
Louisiana Economic Development Secretary, Stephen Moret
Dave Norris, Jr., Director of the Louisiana Tech Enterprise Center
State Senator Francis Thompson (D) representing District 34 in Northeast Louisiana
When compared to the rest of the nation, Louisiana’s economy seems do be doing relatively well. Since the start of the recession in December 2007, the national economy has lost 3.6 million jobs. About one-half of this decline occurred in the past three months. But at the end of 2008, Louisiana was the only state in the nation to gain nonfarm jobs – 3,700 citizens were employed during November.
Other recent successes:
During 2008, Louisiana had a net gain of 8,500 jobs, a 0.4 percent increase from 2007.
For the same 12 month period the U.S. experienced a 1.4 percent decrease in jobs while the South saw a decrease of 0.4 percent.
All regions of Louisiana have seen job growth over the last year:
* Southeast +1.6%
* Central +1.3%
* Capital +1.2%
* Bayou +1.2 %
* Southwest +1.2%
* Northeast +0.9%
* Acadiana +0.9%
* Northwest +0.8%
I’m tired of us, the people, buying golf courses, lakes and neighborhood developments and calling it economic development. It’s not! Give tax credits to companies that are already here and new companies to get them to come. THAT is economic development, not paying new companies to come here.
We also have too many state employees per capita. Lay some of them off. Yes I know that increases unemployment but I see plenty of “now hiring” signs up everywhere in northwest La. They will get work.
I have to tighten my belt. The state will tighten it’s belt, again, simple!
Posted by TKTPLZ on 10/27 at 09:05 PM