Lafayette is facing a severe housing crisis, with thousands of people at risk of losing their homes. This crisis started before the pandemic, but the coronavirus and its impact on our economy has just added fuel to a fire that’s now threatening to rage through our community.
The gist: April sales numbers released by LEDA highlight the economic fallout from the state’s coronavirus lockdown. Total retail sales in the parish in March and April fell $112 million in 2020 when compared to the same months in 2019.
The gist: A new economic forecast projects that the Lafayette metro area will lead the state in jobs lost from the first quarter of this year to the second. Modeling by economist Gary Wagner of UL Lafayette’s B.I. Moody III College of Business Administration shows the area recovering less than 10% of those jobs over […]
Projections by the St Louis Federal Reserve Bank rank the Lafayette metro area as having the 20th highest percentage of jobs at high risk of unemployment due to the coronavirus out of the 150 largest metro areas in the country.
Lafayette’s oil and gas industry is facing existential challenges that far outstrip the short-term subsidies being offered by the federal government’s coronavirus stimulus package.
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.
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