Louisiana's Economy Ranked Among The Worst In the Country

Monroe, La-- - Louisiana's economy was ranked the second worst in the nation, according to a recent report by WalletHub.

"I'm not entirely surprised," local economist Robert Eisenstadt said. "I mean, the same states show up in essentially the same rankings almost over and over again."

The ranking is based on a variety of factors including employment, government spending and growth in science and technologies. 

Eisenstadt said the state struggles because its economy isn't diverse. 

Therefore, when one industry is hit hard, it has a large impact on the whole state. 

"We also don't see a lot of revenues in the state level, so it makes it very difficult for the state to invest in those kinds of things that perhaps attract business and industry and therefore, attract the jobs," he added.

Another issue plaguing Louisiana? He said students moving to other states where the grass appears to be greener. 

"We've got good doctors, lawyers and nurses and they're leaving because there are no job opportunities," resident Sharon Neal Greer said. 

Eisenstadt said while the state as a whole isn't as advanced as others technology-wise, the influx of companies like CenturyLink and IBM into the area are positive indicators for the future.

"They are two big companies and I think that'll do a lot for Monroe job-wise and for the local economy," resident Will Bonham said.

There may not be an easy fix for the economy, but Eisenstadt said we need to start by investing in people.

"People create ideas, people create new technologies, people are entrepreneurial. Business is not entrepreneurial, people are," he added. 

 

 


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