Economy
Unemployment rate falls to two-year low
The unemployment rate fell to a two-year low of 8.8 percent in March, and the Labor Dept reports that the economy added 216,000 jobs last month. Private employers, the backbone of the economy, are driving the gains, and economists predict employers will add jobs at roughly the same pace for the rest of this year. Full article.
With proper energy policy, LA economy could take off
In a recent meeting of the Central LA Chamber of Commerce Legislative Issues Conference, the president of the LA Assoc of Business and Industry told members that LA's economy will accelerate if the federal government would consider all energy sources in this country and not put unnecessary regulations on a land oil and gas extraction method. Full article.
Signs of growth: Businesses are borrowing
Now that demand is up and business is finally improving for many companies, they're doing what they always do at the beginning of an expansion — calling the bank and asking for a loan. And—in stark contrast to the depths of the financial crisis, banks are saying yes. Loans are one of the best gauges of economic growth, and borrowing by smaller companies is being watched especially closely because it may indicate those companies are preparing to hire. Full Article.
The rising cost of food
The World Bank announced this week that food prices are 29 percent higher than they were a year ago. The increase has been fueled by higher prices for wheat and corn. Kurt Guidry, an economist and professor with the LSU AgCenter, said the final consumer price depends a lot on the amount of processing the food goes through. Full article.
Governor Jindal works to extend Enhancements of Critical Business Incentives
Gov. Jindal recently announced he will work to extend the Quality Jobs Program, the Research and Dev Tax Credit & the Technology Commercialization Credit/Jobs Program to keep the state competitive in attracting business investment and spur job creation. The Quality Jobs program encourages businesses to locate or expand operations in Louisiana by providing tax incentives for job creation and capital investment. Full article.
Strain: La. agriculture has 'unprecedented opportunity'
LA’s Agriculture and Forestry commissioner, Mike Strain, recently indicated that La. agriculture has an unprecedented opportunity. Strain's optimism is based on prices of agricultural commodities such as corn, wheat, cotton, rice and sugar, which are rising. Full article.
Drilling ban hurts 'real life' people
Rob Guidry, of the Greater Lafayette Chamber of Commerce, is gathering information from local companies to show politicians that idling rigs in the Gulf is taking a toll on a slew of mom-and-pop businesses. The local chamber plans to compile these "real life" stories on an Internet portal that will be used during hearing in Washington on the issue of drilling in the Gulf. Full article.
Layoffs become rarer even with unemployment high
If you have a job, you're less likely to lose it than at any point in at least 14 years. If you are unemployed, however, finding a job remains a struggle because research indicated that employers won't likely step up hiring until they feel more confident about the economy. Full article.
Getting ready for new business from mystery company
Three trucks recently brought in kilns to the Port of Alexandria and more trucks were on the way with equipment for a new business moving to the port. Port and economic development officials indicated that an announcement on the company name and the projected jobs it will bring is expected mid-February. Full article.
U.S. economy grows in 2010
The economy gained strength at the end of last year as Americans spent at the fastest pace in four years and U.S. companies sold more overseas. The growth is boosting hopes for a stronger 2011. Commerce Dept reports indicated that growth rose to a rate of 3.2% in the October-December quarter, and it was the best quarterly showing since the start of last year. Full article.
