LSUA’s Central Louisiana Economic Dashboard for September Released

ALEXANDRIA - The Louisiana State University of Alexandria College of Business releases its September 2024 issue of the Central Louisiana Economic Dashboard.

"Employment, consumer spending, and housing in Central Louisiana continue to show uncertainty in the economy," said Randall Dupont, Dean of the LSUA College of Business. In August, the Alexandria Metropolitan Statistical Area (MSA) and Natchitoches Parish saw the unemployment rate remain above the state rate. Employment in Alexandria fell 790 in August from the previous month, while Natchitoches Parish added 127 to the employment rolls. On a year-over-year basis, Alexandria was down 1,518 from August 2023, while Natchitoches Parish was up 564. The August unemployment rates for Alexandria and Natchitoches stood at 4.1% and 4.3%, respectively. "The overall employment trends remain promising in light of the national economy, but the slight increase in the unemployment rate and the mixed results in consumer spending remind us to continue supporting our local economy," Dupont said.

So far in 2024, consumer spending in six of the 11 central Louisiana jurisdictions reported gains over last year with Alexandria reporting a 6% gain, Rapides 4%, and Pineville 1%. Vehicle sales were down in five of the six jurisdictions reporting with year-to-date declines of 6% to 18%. Only Avoyelles had a slight gain for the year. Online sales in central Louisiana increased 4% in August over July and are up 24% for the year.

"Competitive mortgage rates and increased housing listings are encouraging developments," said Dupont, "making homeownership more accessible and driving local economic activity."

The 30-year fixed mortgage rate stood at 6.09% in mid-September and at 5.15% for the 15-year rate. Active listings for single-family homes are up 6% from a year ago in Alexandria, 18% in Leesville, and 21% in Natchitoches. The average listing price was up 11% in Alexandria and 5% in Natchitoches. In August, homes in Alexandria had a median listing price of $230,000, up 4% from a year ago. Leesville's median listing price of $214,000 is down 8% from a year ago, while the median listing price of $300,000 in Natchitoches represents a 2% increase.

The Central Louisiana Economic Dashboard is a service of the LSUA College of Business to help business and community leaders monitor the economic pulse of central Louisiana. To view the September 2024 CENLA Economic Dashboard, click here.  

Written by Randall Dupont, Ph.D. | LSUA College of Business

Photo credit - LSUA Strategic Communications