The Louisiana Economy Division of Economic Development and Forecasting E.J. Ourso College Of Business Louisiana State University

Topics A bit about our research projects Key features in the Louisiana economy Forecasts for the Louisiana economy Concerns

Division Related Projects Louisiana Economic Outlook Occupational Forecasting (LWC) Job Vacancy Survey (LWC) Economic Development Impact Studies (LED) Tourism Satellite Account (CRT) UI Claims Forecast Others: Green Jobs, LHIS

Unemployment Rates: U.S. and Louisiana

US Employment by Industry

LA Employment by Industry 1%  20,000 jobs

Share of US GDP

Share of LA GDP

Key Features of LA Katrina Rebuilding Industrial mix – Primarily non-durable goods manufacturing Heavy reliance on oil and gas industry Industrial construction

Louisiana Driver Firms Driver Firms Included in Analysis Number of firms Direct Employment157,291149,945 Total LA Jobs Created468,326440,000 Direct Wages$2.4 billion$2.3 billion Total LA Sales Created$36.6 billion$ 35.2 billion Driver Firms

Forecasts by RLMA (Preliminary) StatisticalAdjustedHistorical Data Forecast : New Orleans0.2%0.3%0.7%0.6%-1.5% 2: Baton Rouge0.8%1.1%2.1%1.5% 3: Houma1.3%1.5%2.5%2.6%2.0% 4: Lafayette0.9%1.2%1.7%1.3%1.0% 5: Lake Charles0.3%0.7%1.7%1.3%0.5% 6: Alexandria0.6% 1.9%1.2% 7: Shreveport0.5%0.7%1.6%1.0%0.8% 8: Monroe0.6%0.9%1.8%0.9%0.0% Statewide0.6%0.8%1.5%1.1%0.3%

Concerns Hurricane recovery and New Orleans Major legislation is creating uncertainty in key sectors –Healthcare –Energy –Financial State Budget

LA Population

Demographic Trends