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Louisiana joining most states with downward revisions to job growth estimates....

Posted on 5/21/24 at 10:40 am
Posted by member12
Bob's Country Bunker
Member since May 2008
32143 posts
Posted on 5/21/24 at 10:40 am
It was over rated by our friends in the federal government by nearly 400%. Nearly all states in the US are seeing stagnant economic growth. There has been a lot of downward revisions when it comes to job gains.

quote:

Job growth in Louisiana last year was much lower than initially reported as revised federal data cut the state’s job growth by about 75%.

The state actually gained only 9,900 jobs in 2023, well below the 39,366 jobs initial data revealed earlier this year, according to data compiled by Gary Wagner, Acadiana Business Economist with the University of Louisiana at Lafayette, in his quarterly Louisiana Economic Activity Forecast.

The more accurate data showed a much weaker job growth and projects a job growth that will be flat over the next 12 months. Unemployment is also expected to increase over the next four quarters and reach 4.5% by the first quarter of 2025.

In that revised data, seven of the state’s nine metro areas had their job growth drop and four actually experienced job losses, data shows. Six areas lost jobs between the fourth quarter of 2023 and the first quarter of 2024.


LINK
Posted by High C
viewing the fall....
Member since Nov 2012
54209 posts
Posted on 5/21/24 at 10:47 am to
Are the idiots waking up to the obvious lies this administration has been spewing for years?
Posted by bad93ex
Walnut Cove
Member since Sep 2018
27551 posts
Posted on 5/21/24 at 10:49 am to
quote:

Are the idiots waking up to the obvious lies this administration has been spewing for years?



Naw, these revisions are usually posted out of sight and the current administration still gets to dance and high five with the next set of grossly exaggerated job growth numbers.
Posted by East Coast Band
Member since Nov 2010
62979 posts
Posted on 5/21/24 at 10:49 am to
Certainly, CNN will tell us that this is good for everyone
Posted by Big Scrub TX
Member since Dec 2013
33717 posts
Posted on 5/21/24 at 10:51 am to
quote:


Naw, these revisions are usually posted out of sight and the current administration still gets to dance and high five with the next set of grossly exaggerated job growth numbers.
Louisiana must be a massive outlier. When I looked a couple of months ago, it was like 13% overstated for the past 16 months - well within a quite reasonable margin of error.
Posted by turnpiketiger
Southeast Texas
Member since May 2020
9633 posts
Posted on 5/21/24 at 10:58 am to
In a nutshell, Louisiana is so screwed economically.

Bad place to do business. Not business friendly in general unless you’re a brother in law with connections at the state capital
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