With the Baton Rouge and New Orleans areas expected to see job growth, the same can't be said for the Hub City.
Lafayette,La(KADN)-With the Baton Rouge and New Orleans areas expected to see job growth, the same can't be said for the Hub City.
"Lafayette has performed really well over the last eighteen months, I am still projecting that the region will gain jobs over the next year. I just think the pace is going to be a little bit slower," says U-L Economics Professor Gary Wagner.
But why you may ask?
Wagner says it's because of the industries that make up the regions. "New Orleans has the hospitality region. Government losses early in the pandemic have really started to dissipate, so that's benefiting the Baton Rouge area. In Lafayette because of energy prices and some other things we are seeing, the region is just not going to gain as many jobs."
Lafayette has been among the top three economic regions since last year.
Wagner updates his projections every three months. A few months ago, he noticed Lafayette's economy starting to slide. "Probably going to fall in the middle of the pack, so we will probably be fifth or sixth over the next year. Instead of the number of jobs I thought we were going to gain months ago that number is slightly revised. But again those things change a lot."
But the news is not all bad, Wagner is optimistic Lafayette can bounce back."In any given year one metro can grow pretty quickly depending on what major industries make up their economy.
Though it will be at a slower pace Lafayette can expect jobs, but just not at the pace of New Orleans and Baton Rouge.
