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.
