LSUA Cenla Economic Dashboard for June released
ALEXANDRIA, La. (LSUA) - Louisiana State University of Alexandria College of Business releases its June 2021 issue of the Cenla Economic Dashboard.
“Travel is back,” said Dr. Randall Dupont, Dean of the LSUA College of Business, “along with new business growth.”
According to the June 2020 Economic Dashboard, hotel occupancy is up by double-digits on a monthly, yearly, and year-to-date basis in central Louisiana. In March, gasoline sales in Louisiana reached the highest level in almost two years and in May passenger air traffic at AEX was at 88% of its 2019 passenger traffic level, the second-highest in the state. AEX continues to outperform the national average which stands at only 67% and AEX is expected to exceed 2019 levels now that a new East coast route via Charlotte has been established by American Airlines.
“New business growth is particularly strong in central Louisiana,” said Dupont. Through May, new businesses established in Rapides are up 50% over the first five months of 2020 with 227 new businesses established so far compared to 151 last year. Fifty-seven new businesses were created in May alone compared to 49 in April and only 20 in May of last year.
“The strong economy is creating challenges in hiring,” continued Dupont, which he expects to continue through the summer. Alexandria had a 4.4% unemployment rate in April, more than two-percent below the state’s 6.6% rate and a full percent below the 5.4% rate for central Louisiana. Currently, there are almost two job openings for every unemployed in the Alexandria.
The Cenla Economic Dashboard is a service of the LSUA College of Business to help business and community leaders monitor the economic pulse of central Louisiana.
To view the June 2021 Cenla Economic Dashboard, click here.
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