BATON ROUGE, La. (WAFB) – Louisiana’s economy continues to grow but at a modest pace, with employment numbers finally above pre-pandemic levels, an economist said Wednesday.
Economics Professor Stephen Barnes told the Rotary Club of Baton Rouge that Louisiana is seeing continued growth. He cited the new Meta data center in north Louisiana as one part of big changes being driven by artificial intelligence.
Barnes said Louisiana has never sustained a stretch of economic growth and job creation. He said it happens more in spurts.
Barnes said Louisiana is not keeping up with nearby state and national trends for growth. He said the new Meta data center and the Hyundai steel mill are important projects to help move the state forward, but it should not stop there.
Major projects driving growth
“They’re going to bring with them immediate stimulus to the economy and help push up state tax revenues, but we’ve got some more work to do at the state and local level to make sure that we can translate those one time projects into broader, more widely accessible economic growth,” said Barnes, Executive Director of the Kathleen Blanco Public Policy Center.
AI impact on workforce
Barnes explained how artificial intelligence influences the economy now and for the future.
“I think there are a lot of questions remaining about how we wrestle with changes in the labor market,” Barnes said. “What things we need to do to step up to make sure we can upskill and reskill people whose jobs are impacted by this emerging technology.”
Economic uncertainties
Barnes also said there is economic uncertainty due to tariffs, Venezuelan oil and delayed or missing data due to the government shutdown.
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