There’s plenty to love about Louisiana: from New Orleans to the Mississippi River to the state’s incredible history. However, while the state might remain one of the best tourist spots in the country, its economy is greatly struggling. In fact, it was recently named the worst state in the United States to find a job. Read on to find out why…
The Economy of Louisiana
Of course, as is usually the case, Louisiana’s job issues stem from more substantial issues in the state’s economy. Its job market mainly consists of agriculture, manufacturing, mining, fishing, and tourism jobs.
Thankfully, the tourism industry continues to do well. In fact, in 2018, Louisiana enjoyed record tourism numbers. However, that doesn’t mean that the rest of the state is thriving. Quite the opposite, actually. Retail businesses outside of majority metropolitans are dying, quickly. Unfortunately, this is nothing new, with the rise of big stores like Walmart as well as online shopping through Amazon. It’s not just retail that hurting in Lousiana, though. With changes in the world economy and prices for oil, the trade war with China continuing, and real estate dropping, almost all of the state’s job markets find themselves dwindling. Meanwhile, prices continue to rise on everything from gas to groceries. With costs increasing and jobs decreasing, Louisiana looks to be in a terrible position…
There’s a strange dichotomy when one looks at Louisiana’s population and economy: while the rest of the U.S. economy grows, albeit slowly, the state continues to get worse. As stated, not only are fewer jobs available, but prices are increasing. And its genuinely affecting the population. Studies show that poverty in Louisiana has grown significantly over the years. From 2009 to 2017, the population below the poverty line increased by a whopping 10.3%!
You can see the direct impact when looking at a county like Caddo Parish, which houses the third most populous city in Louisiana, Shreveport. There, according to the U.S. Census Bureau’s American Community Survey, more than one in four residents lives their whole life in poverty, and the unemployment rate sits at 5%. Thankfully not all hope is lost for this legendary state…
Louisiana’s Ray Of Hope
Believe it or not, experts do believe that Lousiana can jump back from this massive setback. The low energy costs in the state work in its favor, as some petrochemical and natural gas companies are planning to invest in the state. In fact, over the next few years, the state expects over $90 billion in these types of investments. Meanwhile, voters also recently passed a sales tax increase that will bring in $900 million over 30 years for road fixes and new public transportation opportunities. Of course, with those come construction, customer service, and other jobs. Still, while the state might have a plan, it will undoubtedly take a long time for Louisiana to get back on its feet.
If you’re looking for a great state to work in, we recommend Iowa. Don’t try settling in Arizona, Kentucky, Mississippi, or Alabama, as they were also ranked as the worst states for job seekers along with Louisiana.