Speaking Out for Louisiana Citizens

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ECONOMIC REPORT ON LOUISIANA

You really need to know how Louisiana is doing economically for you and your family before you make decisions about your vote this year. Louisiana ranks 48th in economic growth in the U.S. Our state has wide-spread joblessness and a decline in economic output. Louisiana’s 4.7 unemployment rate is tied as the fourth highest in the country, greater than the national rate of 3.8 percent. Our five-year annual employment growth rate is 0.4 percent representing the second smallest increase in the country. Over the last five years the state’s GDP declined by an annual average of 0.1 percent - the third lowest five year change of all states. The decline in economic output came despite a 1.8 percent population increase over the same period.

The state’s struggle occurs at a time when the national economy is the strongest it has been in decades. Louisiana job seekers and working families know all to well: jobs are hard to come by and the economy is stagnant even while most of the rest of the country is experiencing the benefits of a booming job market and economic growth. Daniel Erspamer, CEO of the Pelican Institute stated, “We’re one of only three states to have averaged economic decline over the last five years, and we have the fourth highest unemployment rate in the country.” He further stated, “All the while our elected officials in Baton Rouge continue the status quo: higher taxes, more spending, and a climate of lawsuit abuse.” We must demand better.

 

 

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