Louisiana state pension plans contribute to state, local economies
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Budget deal is bad news for long-term unemployed
The federal budget deal announced this week is a welcome reminder that bipartisan compromise is still possible on Capitol Hill. The agreement averts a government shutdown, undoes some of the indiscriminate “sequestration” budget cuts and continues to reduce the budget deficit.
But for those who’ve been hardest hit by the Great Recession — the 1.3 million long-term unemployed Americans who are receiving federal jobless aid — the deal amounts to a lump of coal in their Christmas stocking. That’s because congressional negotiators failed to renew federal Emergency Unemployment Compensation (EUC), even though the economic recovery remains stubbornly slow and there are still nearly three job seekers for every job opening.
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Invest in the future of Louisiana
As a friend of LBP, you’ve seen the work we produce. I hope you have a sense of LBP’s mission. Now I’m asking you to support the work of LBP by making a tax-deductible donation, that will help us to keep doing more to show, with reliable, non-partisan analysis, why Louisiana is on the wrong course – and how to fix it.
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Poverty on the rise in Louisiana
The poverty rate in Louisiana – already among the nation’s highest – continues to climb, according to data released Tuesday by the U.S. Census Bureau.
The percentage of people without health coverage is also on the rise, according to data from the Current Population Survey (CPS).
While more complete figures won’t be available until Thursday, analysis of two-year average survey data shows Louisiana is one of a handful of states that saw a statistically significant increase in poverty between 2009-2010 and 2011-2012, even as the national poverty rate remained essentially unchanged. Most states either saw their poverty rate decrease or stay largely the same over that time period, while Louisiana saw the biggest increase.
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