BATON ROUGE – Personal income figures in Louisiana are among the best in the nation, according to a recent report by the Bureau of Economic Analysis (BEA).
Louisiana had the second-highest personal income growth – 5.9 percent – in the nation from 2018’s first and second quarters (Q1 and Q2), trailing only Texas, the BEA reports.
“The increase in personal income reflects that Louisiana’s economic growth is hitting workers’ wallets,” said Sec. Ava Dejoie, Louisiana Workforce Commission (LWC). “Greater personal incomes benefit working families and further strengthen communities.”
LWC Economist Ali Bustamante said that the latest figures are a product of the more than 2 million Louisiana residents who are employed across the state.
Personal income in Louisiana increased by $2.99 billion from Q1 to Q2. The bulk of Louisiana’s personal income growth – $1.97 billion – was driven by increased net earnings, or the sum of wages and salaries, supplements to wages and salaries, and proprietors' income -- less contributions for government social insurance plus an adjustment to convert earnings by place of work to a place-of-residence basis.
The top 5 industries contributing earnings to Louisiana’s personal income growth are:
1. Construction – total earnings growth of $401 million;
2. Professional, scientific, and technical services – total earnings growth of $284 million;
3. Health care and social assistance – total earnings growth of $270 million;
4. Manufacturing – total earnings growth of $259 million; and
5. Mining, quarrying, and oil and gas extraction – total earnings growth of $231 million.
Construction employment in Louisiana grew by 2.2 percent from 2017:Q1-2018Q1. Professional, Scientific and Technical Services employment grew by 1.1 percent during that same time period. Health Care and Social Assistance employment increased by 0.4 percent, Manufacturing employment grew by 0.04 percent, and Mining, Quarrying and Oil and Gas Extraction employment grew by 3.8 percent in Louisiana from 2017-18.
The growth in personal income is best seen through individuals. For example, Brad Barrios, recently joined Entergy as a lineman, earning a salary in excess of $40,000 per year with a career pathway leading to even higher wages. For Barrios and others in the Certified Line Worker Training Program (CLWTP), paid for by LWC with Workforce Innovation & Opportunity Act (WIOA) funds, dislocated workers – those laid off from declining industries or with barriers to employment – participated in a 16-week training, that resulted in immediate employment.
Approximately 23 people have completed CLWTP funded by LWC at Fletcher Technical and Delgado community colleges. The placement rate for these individuals is more than 95 percent. A new class will complete training at Fletcher in October, and at Delgado in February. The first North Louisiana Cohort is scheduled to begin in January 2019.
“Brad and his personal journey into a new career are what our work is ultimately about, placing Louisianians into family sustaining careers. I am grateful to Brad for allowing us to share his story and be a part of his journey. Wage increases and job growth in Louisiana are moving more citizens and their families into prosperity. This administration is committed to expanding opportunity, access and training to all residents, wherever they are in their career pathway,” Dejoie said.
To view job openings or post your resume, visit LWC’s on-line job matching system, HiRE, which currently has thousands of job listings. Information related to training initiatives and other services are available through our network of Business and Career Solution Centers, affiliates of the national American Job Center.
About the Louisiana Workforce Commission
The Louisiana Workforce Commission is an agency of state government that administers programs designed to enhance workforce growth and provide family-sustaining jobs for Louisiana residents. The commission monitors employment, administers unemployment compensation and tax funds, provides training resources for employers and employees and oversees worker compensation benefits. The agency also gathers and supplies information on the labor market and occupational sectors in Louisiana.
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