Posted on
March 25, 2009
in Income Growth in Louisiana
Preliminary estimates released by the U.S. Bureau of Economic Analysis revealed that personal income growth slowed in 2008. In Louisiana, personal income growth slowed to 4.2 percent in 2008, a virtual crawl compared to 10.2 percent in 2007. Of course the decline is not limited to Louisiana, as personal income growth nationwide slowed to 3.9 percent in 2008, compared with 6 percent in 2007.
So if you see the glass as half-full, Louisiana is ahead of the average in growth. But if you see it as half-empty, Louisiana’s growth declined by almost 60%, while national growth declined by only 35%. And any analysis of Louisiana’s performance must take into consideration the impact of hurricane recovery, as LSU economist Loren Scott points out.
Related posts
March 5, 2024
A Fragmented System: Louisiana Audit Calls for Improved Coordination in Social Safety Net and Workforce Programs
A recent performance audit conducted by the Louisiana Legislative Auditor found significant shortcomings [...]
Read moreFebruary 27, 2024
Solutions Summit 2024: It’s Geaux Time!
Join the Pelican Institute for its 2024 Solutions Summit on Thursday, March 7th in Baton Rouge! The [...]
Read moreSeptember 20, 2023
Poll Shows Strong Support for Tax Reform as Pelican Unveils Plan
Pelican Institute reform plan would flatten personal and corporate taxes, boost jobs in first year. Baton [...]
Read moreJanuary 30, 2023
Solutions Summit Nostalgia
Register for Solutions Summit 2023 here! Curious about Solutions Summit? Check out some of the action [...]
Read more