Louisiana is Now Ranked Last Among 'Best' U.S States for Economy

According to a new study, Louisiana's economic recovery is one of the slowest in the nation being placed in the bottom five of states.

Posted: Aug 25, 2021 10:30 PM
Updated: Aug 26, 2021 8:55 AM

Lafayette, LA - The U.S. economy is trying to bounce back after covid-19 losses. Louisiana ranks at the bottom, according to Acadiana Business Economist Endowed Chair, Gary Wagner from the University of Louisiana at Lafayette new economic research. “We lost about 258,000 jobs during the pandemic and we’ve only gained back about thirty-nine percent, so that puts us in the bottom five.”

Wagner says we can’t blame the pandemic for our economic recovery. He says that Louisiana typically bounces back more slowly than the national economy.

Photo courtesy of MGN Online

“We were one of the slowest growing states in the nation before the pandemic started. so as I mentioned, we just tend to be slower growing because of the nature of economic activity that we have.”

He says the extended federal unemployment benefits are probably one of the biggest reasons we haven’t see faster job growth. “I think some people were sitting on the sidelines perhaps waiting collecting the extra benefits not interested to look for work at that time to see what.”

One resident says we must remember the global economy is recovering from the COVID-19 fallout. “Whatever is happening here in Louisiana is happening in France, you know Australia all over the world as a global thing we are all struggling”

Ken Franquez believes that starting local is the way to see more jobs in the area. “I think we have to concentrate on getting more businesses involved to bring people in.”

Wagner says that as jobs start to come back to Louisiana, he sees the Baton Rouge area to have the faster job growth, with Lafayette coming in second.

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