ALEXANDRIA — The Louisiana State University of Alexandria College of Business released its April 2021 issue of the CENLA Economic Dashboard. “Central Louisiana’s economy is doing well in terms of employment, housing, and travel,” said Dr. Randall Dupont, Dean of the LSUA College of Business.
Employment remains strong as the Alexandria MSA continues to have the tightest labor market in the state with appropriately two job openings for every unemployed, which is three times higher than the state average. “Many businesses are struggling to find employees with the skills and credentials needed,” said Dupont. March initial and continued unemployment claims in central Louisiana continued downward, falling 3% and 20%, respectively, from a month earlier. The February unemployment rate in CENLA was 6.1% compared to 7.1% statewide, with LaSalle recording the lowest rate in the state at 3.7%.
Sales tax data shows consumer spending in CENLA pulled back in February, which was expected after a strong holiday season, said Dupont. However, vehicle sales in Alexandria were up 25% over January and 54% over the same month a year ago. New business creations in Rapides year-to-date are up 8%. While occupational licenses started the year down in Rapides, occupational license revenue was up 0.3% year-to-date in March, reversing a sharp decline last month.
The April issue of the LSUA CENLA Economic Dashboard reports on remote seller tax collections for the first time. In the first eight months of operation, $8.8 million in online sales tax revenue has been collected in central Louisiana with Rapides collecting $2.6 million, St. Landry $1.7 million, Vernon $1.1 million, and Natchitoches $684,000.
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