Down to the wire: Louisiana lawmakers are squabbling over must-pass budget bills, with the House and Senate in sharp disagreement about how much money to spend and trying to broker a compromise before the legislative session ends this evening. The Associated Press reports measures regarding pay for state government agencies, public services and colleges in the upcoming fiscal year and finance for construction projects around the state await passage. The two-month session must adjourn by 6 p.m. Gov. John Bel Edwards has called a precautionary special session to begin a half-hour later in case a budget agreement isn’t complete. Legislative leaders had said they didn’t expect the extra time to be needed. Negotiations continued behind closed doors. Read more.
Gone fishing: Louisiana is among the five Gulf states considering a proposal that could lead to more fishing days for red snapper in federal waters, Gov. John Bel Edwards’ office says. Under the proposal, anglers would be allowed to fish for red snapper on weekends only, possibly beginning as early as June 17. The proposed season would run through Sept. 4 in federal and state waters. “This is a solid proposal from the federal government,” Edwards says. “Accepting this offer would result in Louisiana anglers having more access to federal waters, rather than the three-day limit that was recently imposed. This is an important step for our anglers, and I am optimistic that we can come to an agreement with the federal government on this proposal.” Read more.
Going down: The number of Americans filing for unemployment benefits fell last week, unwinding half of the prior period’s jump and suggesting the labor market was tightening despite a recent slowdown in job growth, Reuters reports. Initial claims for state unemployment benefits declined 10,000 to a seasonally adjusted 245,000 for the week ended June 3, the Labor Department announced this morning. Claims have now been below 300,000, a threshold associated with a healthy labor market, for 118 straight weeks. That is the longest such stretch since 1970, when the labor market was smaller. The labor market is near full employment, with the jobless rate at a 16-year low of 4.3%. Read more.
