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![Page 1: The Louisiana Economy Division of Economic Development and Forecasting E.J. Ourso College Of Business Louisiana State University.](https://reader036.fdocuments.us/reader036/viewer/2022062421/56649cac5503460f9496e9b4/html5/thumbnails/1.jpg)
The Louisiana Economy
Division of Economic Development and ForecastingE.J. Ourso College Of Business
Louisiana State University
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Topics
• A bit about our research projects• Key features in the Louisiana economy• Forecasts for the Louisiana economy• Concerns
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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
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Unemployment Rates: U.S. and Louisiana
2
4
6
8
10
12
14
1980 1985 1990 1995 2000 2005 2010
Louisiana Unemployment RateUS Unemployment Rate
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US Employment by Industry
Government16.2%
Trade & Transportation19.0%
Education and Health Services13.4%
Leisure and Hospital-ity
9.8% Professional & Business Svcs.
13.1%
Manufacturing10.1%
Construction5.6%Financial Activities
6.1%Other Services
4.0%
Natural Resources and Mining0.5%
Information2.2%
~138,000,000 jobs total; 1%~1.38M jobs
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LA Employment by Industry
1% 20,000 jobs
Government20.3%
Trade & Transportation19.9%
Educational and Health Services12.8%
Leisure and Hospital-ity
10.5%
Professional & Business Svcs.
9.7%
Manufacturing8.1%
Construction6.0%
Financial Activities5.2%
Other Services3.6%
Natural Resources and Mining2.5%
Information1.6%
1% ~ 17.6K jobs; 1,760,000 jobs total
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Share of US GDP
Financial Activities10.0%
Trade & Transportation17.1%
Manufacturing19.0%
Government14.4%
Professional and Business Services7.7%
Education and Health Services
8.8%Construction6.6%
Information6.7%
Leisure and Hospi-tality4.5%
Other Services3.0%
Natural Resources and Mining
2.3%
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Share of LA GDP
Financial Activities11.5%
Trade & Transportation14.9%
Manufacturing21.7%
Government10.6%
Professional and Business Services7.6%
Education and Health Services
6.2%
Construction4.8%
Information2.2%
Leisure and Hospitality3.8%
Other Services2.0%
Natural Resources and Mining
14.7%
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Key Features of LA
• Katrina Rebuilding• Industrial mix
– Primarily non-durable goods manufacturing• Heavy reliance on oil and gas industry• Industrial construction
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Louisiana Driver Firms
Driver Firms Included in
AnalysisNumber of firms 153 143
Direct Employment 157,291 149,945Total LA Jobs Created 468,326 440,000
Direct Wages $2.4 billion $2.3 billionTotal LA Sales Created $36.6 billion $ 35.2 billion
Driver Firms
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2008-2018 Forecastsby RLMA (Preliminary)
Statistical Adjusted Historical Data
Forecast Forecast1990-2004
1994-2004
1998-2008
1: New Orleans 0.2% 0.3% 0.7% 0.6% -1.5%
2: Baton Rouge 0.8% 1.1% 2.1% 1.5% 1.5%
3: Houma 1.3% 1.5% 2.5% 2.6% 2.0%
4: Lafayette 0.9% 1.2% 1.7% 1.3% 1.0%
5: Lake Charles 0.3% 0.7% 1.7% 1.3% 0.5%
6: Alexandria 0.6% 0.6% 1.9% 1.2% 1.2%
7: Shreveport 0.5% 0.7% 1.6% 1.0% 0.8%
8: Monroe 0.6% 0.9% 1.8% 0.9% 0.0%
Statewide 0.6% 0.8% 1.5% 1.1% 0.3%
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Concerns
• Hurricane recovery and New Orleans • Major legislation is creating uncertainty in
key sectors– Healthcare– Energy– Financial
• State Budget
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#
56.1
# 72.1
#
53.2
# -20.0
# -22.4
#
-15.8
Vernon
Winn
Cameron
Rapides
Union
Allen
Sabine
Caddo
Vermilion
Terrebonne
Grant
Bossier
Lafourche
De Soto
Calcasieu
Natchitoches
Bienville
Beauregard St Landry
Acadia
Avoyelles
Iberia
St Mary
Tensas
St Tammany
Iberville
La Salle
Claiborne
Franklin
Madison
Webster
Concordia
Morehouse
Catahoula
Ouachita
Jackson
Tangipahoa
Plaquemines
Livingston
Lincoln
St Martin
Richland
Caldwell
Evangeline
Washington
Jeff'n Davis
Jefferson
Orleans
St Bernard
St Helena
Red River
Pointe Coupee
St Charles
East Carroll
East Feliciana
E Baton Rouge
Assumption
West Carroll
Lafayette Ascension
West Feliciana
St James
St John Baptist
W Baton Rouge
Louisiana ParishesPercent Population Change
Census 1980-2000-22.4 to 0%0 to 20%20 to 33%33 to 50%50 to 72.1%
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# Orleans
# St Tammany
#
E Baton Rouge
#
St Mary
#
Lafayette
# Rapides
#Caddo
655
53
-944
4451
708
-8945
7491
1418
11044
-1250
-359
-233
-186
1601
1636
-635
-1821
80115
16455
-244
4050
-445718310
1873
1995
16877
1425
-2734
1161
-1367
8029
-201
8369
-1089
-2722
-1105
-2247
-1907
33008
-2878
698
-1800
-732
-1282
-1924
7789
-1206
-10012
1348
3140
2678
-811
2925
-608 -2351
46486
130410863
-313
11120 -72407
2662540526
2560
LA Population 1980-2000
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Demographic Trends
Under
5 yea
rs
5 to 9
years
10 to
14 ye
ars
15 to
19 ye
ars
20 to
24 ye
ars
25 to
29 ye
ars
30 to
34 ye
ars
35 to
39 ye
ars
40 to
44 ye
ars
45 to
49 ye
ars
50 to
54 ye
ars
55 to
59 ye
ars
60 to
64 ye
ars
65 to
69 ye
ars
70 to
74 ye
ars
75 to
79 ye
ars
80 to
84 ye
ars85
UP1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
2008 Population Distribution
UNITED STATES RLMA 1 (NEW ORLEANS)