Today, the Bureau of Economic Analysis (BEA) released a report showing that personal income in Louisiana grew faster than every state in the nation, with the exception of Texas, in the second quarter of 2018. Personal income in Louisiana grew at a rate of 5.9 percent, outpacing the national average of 4.2 percent.
“Last week, we announced that the state ended the last fiscal year with a surplus. Today, the Bureau of Economic Analysis confirmed our assumptions – Louisiana’s businesses are doing better and people are bringing home more in their paychecks. This is excellent news, and just another sign that Louisiana is moving in the right direction. Our economy is growing, more people are working, and we have a stable budget structure for the first time in many years. While this is all positive news, we still have more work to do, but there is no denying that the momentum we have in Louisiana is real.”
The full report from BEA is available here.
To view Gov. Edwards’ press conference discussing the anticipated surplus, please click here.