The dreaded “R” word is in Loren Scott’s 27th Louisiana Economic Outlook, although he says it should be “a relatively shallow national recession lasting about one year.” Scott presented the report at the BizTech Expo's Top 100 Luncheon today.
He expects that Louisiana will have near level job growth next year and gain 28,400 jobs in 2010. “It looks like we’ll be lucky and get through this recession without losing jobs, but it’ll be a close call,” Scott says. “We want to emphasize there is a high level of uncertainty this year in the forecast because we’ve never dealt with a recession with a credit freeze behind it.”
According to Scott’s metro area projections:
-- The Baton Rouge area’s planned $6.5 billion in new construction promises 2,400 jobs next year and 6,800 in 2010. “It won’t be great growth, but at least it’ll be growth.”
-- The New Orleans area will be hardest hit with 3,000 jobs lost next year. It will gain 6,000 jobs in 2010.
-- The Shreveport-Bossier area will lose 2,100 jobs in durable goods manufacturing next year but gain 2,500 jobs in 2010.
-- Higher energy prices will keep Houma and Lafayette growing. They are expected to gain 1,800 to 2,800 jobs next year and 2,400 to 3,200 jobs in 2010. --Anna Thibodeaux
To read more about Scott's forecast, click here.
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