The Louisiana State University of Alexandria College of Business releases its February 2022 issue of the CENLA Economic Dashboard. Online sales over the holiday season are the story for local economic increases.
“Holiday sales tax revenue for central Louisiana were up slightly, with online sales accounting for nearly all of the increase,” says Dr. Randall Dupont, Dean of the LSUA College of Business.
Sales tax revenue for the 2021 holiday season was $68.7 million in the nine-parish central Louisiana region compared to $67.4 million in 2020, representing a 2% increase. Online sales tax revenue, however, increased 41% during the 2021 season to $4.0 million, up from $2.8 million in 2020. The $1.15 million increase in online sales tax revenue accounted for nearly all of the $1.26 million overall increase. Sales tax revenue for November and December is used as a measure of holiday sales.
In December, central Louisiana had an unemployment rate of 3.4% compared to 3.7% for the state. The Alexandria metro area recorded a 2.8% unemployment rate, the lowest among the state’s metro areas for the 20th consecutive month. The Louisiana Workforce Commission notes Alexandria currently has 1,737 unemployed and 6,035 job openings. This equates to a ratio of 0.29 workers per job opening or, in other words, more than three openings for each unemployed. Lafayette and Shreveport-Bossier have ratios of 0.46 and 0.53, respectively.
The CENLA 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 February 2022 CENLA Economic Dashboard, click here.