Business applications in Louisiana decreased throughout 2019, according to new data from the U.S. Census Bureau.
In every quarter last year, the seasonally adjusted data shows business applications with planned wages decreased by at least 6% compared to the prior year. The drop grew with each quarter, with the biggest drop in Q4 at 10.8%, followed by Q3 at 9.7%, Q2 at 7.2% and Q1 at 6.2%.
Louisiana’s Q4 drop was the fifth highest in the nation; total applications totaled 1,340. Nearby states reported similar drops last quarter, including Alabama at 12.6%; Texas at 9.9%; Arkansas at 7.5%. Mississippi grew slightly at 0.7%.
The highest Q4 increase was reported in Alaska at nearly 18%. Nationwide, business applications with planned wages dropped 6.4% in the fourth quarter compared to the previous year. The Southern region as a whole saw a 6.5% decrease.
The U.S. saw a significant drop in business applications in 2007, plummeting from 223,000 in the third quarter to 167,000 in the fourth. In that same time frame, Louisiana’s applications went from roughly 3,200 to 2,200.
The numbers appear to have stabilized after 2009—fluctuating between 150,000 and 114,000 at the lowest points—but have not risen back up to the level seen prior to 2007. See the data here.
