Louisiana economy predicted to grow at slowest rate in U.S.

Chris Miller
January 20, 2020 - 3:43 pm

An economic forecast from Kiplinger holds some good and bad news for Louisiana -- increased economic growth, but at a pace likely to be tied for last in the nation. 

The state is institutionally behind the eight-ball, says UNO business professor Mark Rosa, who says cuts to higher education have hurt the ability lure business.

"The education system is lacking," said Rosa. "That doesn't bode well to attract a lot of business."

Rosa said with around 90 percent of the budget constitutionally obligated to be spent on certain things,state leaders are hamstrung when it comes to prioritizing economic development, and worker training. And he says the people that get educated in Louisiana don't want to stick around.

"I know several of my students talk about, right upon graduation, Texas is more of thriving job environment and they're looking forward to seeing what's available in that direction," he said.

The Kiplinger forecast expects unemployment to hold steady around 4.3 percent, which Rosa says is good, but not great.

"We're at least maintaining the inventory and we're able to employ a lot of people," said Rosa, "but I think that's just a maintenance thing, it's not a growth thing."

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