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New report: Louisiana economy shrinks to lowest in region
Posted on 7/10/25 at 8:48 am
Posted on 7/10/25 at 8:48 am
quote:
Performance indicators released Friday show Louisiana’s economy shrank by 1.7% over the first few months of 2025 and is moving in what one expert called a “sideways” direction marked by sluggish growth and contractions at both the state and national levels. However, it’s not yet in recession territory, analysts say.
New first-quarter data that became available last week showed the U.S. economy slowed further than analysts had initially thought. U.S. gross domestic product (GDP), which measures the total value of the goods and services produced, shrunk for the first time since 2022 and Louisiana posted the worst GDP rate in the Southeast region.
With a shrinkage of -1.7% GDP for the first quarter, Louisiana dropped in the state rankings from 15th to 38th, according to a U.S. Department of Commerce report released Friday. The sectors performing the worst included minerals extraction (mining, quarrying and oil and gas drilling), construction and finance and insurance.
quote:
One bright spot has been the labor market. Louisiana’s jobs market finally recovered from the hemorrhaging that occurred during the coronavirus pandemic five years ago. After lagging behind the rest of the country, the state reached its pre-pandemic mark in February with nearly 2 million non-farm jobs, according to data from the Bureau of Labor Statistics. That number has been inching upward, though it remains to be seen if the trend will continue or level off.
Scott said he believes Louisiana can continue to post job gains. He cited a string of recent announcements from large companies moving into the state such as Meta’s planned data center and Hyundai’s steel plant.
Sharing a different take, Dismukes said he doesn’t see much more room for job gains unless Louisiana can grow its population.
LINK
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Posted on 7/10/25 at 8:50 am to ragincajun03
Does this affect crawfish season or LSU football?
Posted on 7/10/25 at 8:50 am to ragincajun03
Sounds like we need Delta and Coca Cola
Posted on 7/10/25 at 8:54 am to ragincajun03
Georgia and North Carolina are still the big, swinging dicks of the South economically and will continue to be so. With TN and SC not far behind.
ETA: Texas, FL are right there w/NC and GA. I'm an idiot for leaving them out.
ETA: Texas, FL are right there w/NC and GA. I'm an idiot for leaving them out.
This post was edited on 7/10/25 at 11:43 am
Posted on 7/10/25 at 8:54 am to ragincajun03
I'm sure Jeff Landry has a plan to fix all this. Look at what he's done with insurance.
Posted on 7/10/25 at 8:56 am to slidingstop
Landry deserves a lot of shite but one thing he’s done an excellent job of is bringing industrial business to LA.
We need more and in different sectors, but he’s honestly done a decent job considering the climate here during Covid.
We need more and in different sectors, but he’s honestly done a decent job considering the climate here during Covid.
Posted on 7/10/25 at 8:56 am to ragincajun03
Not surprising.
Isn’t like Landry is helping in droves either.
We have a bunch of O&G, refining, and chem/petro but outside of that it seems our biggest industries are healthcare and tourism.
We aren’t attracting any tech companies or manufacturing to the area and we haven’t done a full crackdown on crime in BTR or Nola to make big companies feel safe coming. Insurance and taxes are huge barrier as well.
This state will be stagnant/decline as long as the local gov continues to want their pockets lined first, rather than seeing the forrest through the trees and getting big fish in the pond.
Isn’t like Landry is helping in droves either.
We have a bunch of O&G, refining, and chem/petro but outside of that it seems our biggest industries are healthcare and tourism.
We aren’t attracting any tech companies or manufacturing to the area and we haven’t done a full crackdown on crime in BTR or Nola to make big companies feel safe coming. Insurance and taxes are huge barrier as well.
This state will be stagnant/decline as long as the local gov continues to want their pockets lined first, rather than seeing the forrest through the trees and getting big fish in the pond.
Posted on 7/10/25 at 8:56 am to ragincajun03
quote:
Louisiana economy shrinks to lowest in region
Print the shirts!
Posted on 7/10/25 at 8:57 am to slidingstop
quote:
I'm sure Jeff Landry has a plan to fix all this.
He sure does.
This Fall he’s bringing TWO live tigers into Tiger Stadium for the big revenge game against the Florida Fighting Napiers.
Posted on 7/10/25 at 9:01 am to Lexis Dad
quote:
Georgia and North Carolina are still the big, swinging dicks of the South economically.
Florida has double the GDP of Georgia and North Carolina
Posted on 7/10/25 at 9:02 am to ragincajun03
Posted on 7/10/25 at 9:04 am to ragincajun03
Mayhe it's finally time Louisiana starts electing different leaders.
Posted on 7/10/25 at 9:04 am to Swagga
quote:
Landry deserves a lot of shite but one thing he’s done an excellent job of is bringing industrial business to LA.
None of which has materialized yet though.
Yea it’s great all these projects are in the works, but they’re still years away. A lot can happen between now and then.
Posted on 7/10/25 at 9:05 am to Lexis Dad
quote:
Georgia and North Carolina are still the big, swinging dicks of the South economically and will continue to be so. With TN and SC not far behind.
Texas is not the South?
The Texas Triangle is on pace to be the leading economic region in the world. 2025 GDP is 2.5 trillion. For reference NYC was 2.3 trillion. I realize the Triangle has a much bigger geographic footprint than NYC.
Posted on 7/10/25 at 9:05 am to TideCPA
Bama looking pretty strong! Nice
Surprised by Tennessee.
Surprised by Tennessee.
This post was edited on 7/10/25 at 9:07 am
Posted on 7/10/25 at 9:07 am to Bamamojo
Didn’t realize this data is just for Q1, so heavily influenced by the tariffs.
Will be interesting to see this list at the end of the year.
Will be interesting to see this list at the end of the year.
Posted on 7/10/25 at 9:07 am to ragincajun03
With Louisiana's overreliance on Federal/Grant money it's probably going to get worse.
Posted on 7/10/25 at 9:08 am to ragincajun03
Well, when the gov and officials are inept and are crooked, 1/2 are on the dole, what do we expect. Louisiana has much to offer, but will always be a backwards state.
Posted on 7/10/25 at 9:10 am to ragincajun03
when you have honor chode and corrupt frick face jeff landry as governor over the last decade, this is what happens. as long as louisiana voters vote for people who talk like us yallllll we're fricked
Posted on 7/10/25 at 9:10 am to Swagga
quote:
Landry deserves a lot of shite but one thing he’s done an excellent job of is bringing industrial business to LA.
link?
And please don't tell me about whats "planning" on coming here, because those announced projects are way too far down the road to rely on. If you can provide evidence of something hes done to produce permanent jobs thus far, I'll recant my statement.
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