COVID Economy Comeback: Is Shreveport Louisiana’s Best Place to Be?
The American economy gained just under a million jobs in March - 916,000 to be exact. And even better news is the plunging national unemployment rate, currently at about 6%, an astonishing 59% below the peak of 14.7% during the height of the COVID-19 lockdowns. To provide more context at the city level, personal finance website, WalletHub, has released its report on the Cities Whose Unemployment Rates are Bouncing Back the Most.
But while the job market is booming in many American cities, what about here in Louisiana? What are the latest numbers from New Orleans, Baton Rouge...and Shreveport?
Well, while the state's three major cities are improving, like in so many other areas, we're lagging far behind the leaders. And for Shreveport, the question is, how long can we claim that being better than New Orleans is really a feather in our cap?
For the record, when comparing the bounce-back economy across the US, Baton Rouge led Louisiana's way at a slightly below average #122 (7.50%). Shreveport, again barely better than NOLA ranked #129 (8.10%). And the poor old Crescent City, once the belle of the state's economic ball, is near the bottom of American cities at #173 (11.00%).
Here's just a sample of WalletHub's extensive study:
Most Recovery From Unemployment March 2020 to March 2021
1) Pembroke Pines, Florida
2) Ft. Lauderdale, Florida
3) Tampa, Florida
4) St. Petersburg, Florida
5) Cleveland, Ohio
Least Recovery From Unemployment March 2020 to March 2021
176) Boston, Massachusetts
177) New York City, New York
178) Miami, Florida
179) Honolulu, Hawaii
180) Hialeah, Florida