Louisiana Overview Louisiana continues to fight back from the numerous natural disasters it has suffered over the past ...
Louisiana continues to fight back from the numerous natural disasters it has suffered over the past decade, including Hurricane Katrina in 2005 and the Deepwater Horizon oil spill in 2010. The state, which lost almost 10 percent of its job base after Katrina, has since regained nearly all of the jobs lost to the hurricane. The Pelican State's economy continues to be dominated by the energy sector and forest products. The oil and gas industries -- as well as the ongoing rebuilding efforts -- are expected to help revive the Louisiana job sector and economy over the long term, though conditions will remain uncertain.
Louisiana Job Opportunities
Thanks to generous tax incentives and affordable living conditions, Louisiana is an attractive place for new businesses and job seekers alike. Career opportunities in Louisiana are concentrated in the energy sector, but the state has growing expertise in advanced manufacturing, agribusiness, clean tech, digital software, specialty healthcare and water management. Louisiana State University and the Southern University System offer a comprehensive research and learning environment.
The trade, transportation and utilities sector accounts for a majority of jobs in Louisiana, followed by the government sector. Most industries have been expanding employment, with the exception of some with smaller shares of employment, including information and other services.
Louisiana Employment Trends
Employment in Louisiana has fared surprisingly well considering the challenges the state has faced. The state's unemployment rate surged to 11 percent in the months following Katrina in 2005, but then dropped as people left the area. The rate remained below 8 percent during the recession and began 2012 at 6.9 percent. Louisiana payrolls and online hiring have been steadily escalating.
Louisiana jobs will increase 1.8 percent between Q2 2012 and Q2 2013, greater than the 1.3 percent growth expected in the country's job supply, Moody's Analytics forecasts.