Projections from local and national analysts warn that unemployment could hit 30% or more in the coming months due to the coronavirus. Lafayette is especially vulnerable because of the fall of oil and gas. Tens of thousands could be out of work by summertime.
The challenges facing Lafayette’s economy may seem overwhelming but you can help right the ship by spending money or making it, and that means more than just shopping local.
On Monday, the price of oil had its greatest one-day plunge ever, and coronavirus officially arrived in Louisiana. These developments pose threats the Lafayette economy is particularly vulnerable to.
UL Economist Gary Wagner predicts around 1% job growth for Acadiana this year, a rate that would beat statewide projections but still lag behind the nation.
GDP, personal income, employment, retail and real estate sales are all increasing, but without oil and gas recovering our economy is trending towards mediocrity.
The gist: Economist Loren Scott projects that the Lafayette economy will add 7,200 jobs over the next two years, according to his annual outlook presented Wednesday at an event hosted by One Acadiana. Scott’s rosy forecast rests on what he calls “heroic assumptions” about the growth of the U.S. economy and the prospect of more […]
Lafayette’s real estate market is ice cold, and it may get worse before it gets better.
The gist: Oil and gas may still be down, but Lafayette’s healthcare economy has realized a series of wins over the last few weeks with good news from companies like VieMed, NeuroRescue and ThinkGenetic.
The mayor-president believes Lafayette is in its best financial position ever. His optimism overlooks flatlining property tax revenue.
Walmart’s decision shines a light on serious issues with no easy answers.
Recent headlines indicate 2018 might be the year our economy started recovering. But there’s ample evidence that any optimism should be guarded given the situation our economy’s in.
The gist: Lafayette lags far behind other American cities in job creation and retention and economic growth. The city ranked 196 out of 200 cities measured in the Best-Performing Cities index created by the Milken Institute, a California-based think tank.