In light of low oil prices and the state’s estimated $750 million budget deficit for the current fiscal year—not to mention a $1.9 billion deficit for the next fiscal year that begins July 1—you can’t blame Louisianans for feeling a little uneasy about the state’s economy.
A new nationwide poll from Gallup confirms as much, showing that Louisiana ranks No. 38 in the nation for how its residents view their economy. The survey, which was conducted through late December with 500 residents in each state and has a 6 percentage point margin of error, shows 43% of respondents called current economic conditions in Louisiana “excellent” or “good.” Another 16% called the conditions “poor.”
And while 55% said they feel the state economy is getting better, 42% said it’s getting worse.
Gallup gives each state an Economic Confidence Index score based on the poll responses, ranging from -100 to 100. A score of -100 indicates no one in the state feels upbeat about the economy, while a 100 score would indicate everyone is feeling good and a score of 0 reflects an overall neutral response to economic conditions. Louisiana’s score is 20, which shows more residents are still feeling positive about the economy rather than negative.
Utah had the highest score, at 75, with 84% of its residents calling the state’s economy excellent or good. Illinois residents have the least confidence in their economy, with a -22 score and just 23% of respondents calling the economy excellent or good.
Nationwide, the poll shows residents in nearly every state feel better about their local economy than they do the national economy. In just three states—Minnesota, California and Massachusetts—did residents express more confidence in the national economy than in their own state’s financial footing.
“Americans often perceive conditions closer to home as better than conditions in the nation as a whole, a pattern that also applies to views on crime, schools and trust in government,” Gallup notes.
