Economic and Employment News Around Louisiana

New Orleans & Baton Rouge Make Top 10 List for Income Growth

The New Orleans metropolitan area leads a list of top 10 markets for income growth recently published by bizjournals.com. The report listed the per capita income at $44,136, up from $29,244 in 2003. No other market posted a bigger increase. The Baton Rouge area was 8th on the list, with a 34.9% increase in per capita income from 2003 to 2005. Click here to view the full list and a slide show highlighting the Top 10 markets.

Louisiana Only State to Add Construction Jobs in September

Louisiana was the only state to report an increase in construction jobs in September over the figures from the year before, according to state-by-state employment figures released on October 21, 2009. According to the Associated General Contractors of America, there were 138,200 construction jobs in Louisiana last month, a 2.1% increase over the 135,400 jobs in September 2008. The AGC says construction employment continues to deteriorate in other parts of the country.

Economist Predicts Continued Job Growth in Louisiana in 2010

The Monroe metropolitan area will be the fastest growing in the state with 1,900 new jobs in 2010 and 1,500 in 2011, said economist Loren Scott at a luncheon for business leaders held in Baton Rouge on October 7, 2009. Scott said Investments in the Foster Farms chicken processing plant, the V-Vehicle manufacturing facility, additional employment at Gardner Denver Thomas as well as construction work have significantly brightened the Monroe area's outlook. Other highlights from his economic forecast include:
Lake Charles will add 1,000 new jobs in 2010 with 1,700 jobs in 2011.The growth, which will make Lake Charles the second fastest-growing area in the state, will be driven by construction on the Sugarcane Bay Casino resort and several other large-scale construction projects.
Shreveport/Bossier will add 3,000 jobs in 2010 because of expansions at Barksdale Air Force Base, exploration in the Haynesville Shale, an injection of highway funds and construction at the SWEPCO power plant.
Baton Rouge will grow by 4,000 jobs in 2010 and add an additional 5,500 jobs in 2011 that will make it the third fastest-growing metro area in the state, driven primarily by the construction industry.
Alexandria will add 600 new jobs in 2010 and 600 in 2011, getting a boost from construction spending at Fort Polk as well as $208 million in state road projects.