LSUA's Central Louisiana Economic Dashboard for January 2025 Released

LSUA’s Central Louisiana Economic Dashboard for January Released

January 30, 2025 ALEXANDRIA - The Louisiana State University of Alexandria College of Business releases its January 2025 issue of the Central Louisiana Economic Dashboard.

The Alexandria Metropolitan Statistical Area (MSA) experienced a mix of positive and challenging economic trends during November and December, according to Randall Dupont, author of the economic report.

Employment in the Alexandria MSA saw a slight increase in November, reaching 60,001 employed individuals, up from 59,804 in October. However, this figure remains 2,207 jobs below the level observed a year ago. The unemployment rate in Alexandria decreased to 4.1% in November from 4.4% in October, favorably below the state's November rate of 4.3%. The broader 11-parish region of Central Louisiana also witnessed a decline in its unemployment rate, settling at 4.7% in November. While initial unemployment claims remained relatively stable at year-end, continued unemployment claims rose by 8% in December, signaling potential ongoing challenges for some in the workforce.

Consumer spending patterns presented a mixed picture, says Dupont. Eight of the eleven local tax jurisdictions reported increases in sales tax revenue collected in December, which reflected sales activity from November. Alexandria and Pineville demonstrated positive annual growth in sales tax collections, with increases of 5% and 4%, respectively. However, Natchitoches experienced a 3% decline in sales tax revenue for the year. Vehicle sales tax collections were also varied, with some parishes experiencing monthly declines while others saw increases. Regarding online sales tax revenue, Central Louisiana's online sales tax collections accelerated in December, showing an 11% increase over November and a substantial 48% surge compared to December 2023. For the year, online sales tax revenue for central Louisiana was up 52% over 2023.

The housing market continued to grapple with the effects of high mortgage rates, says Dupont. Since last summer, the median number of days a home is on the market has risen significantly. Properties in Natchitoches and Alexandria were on the market 12% and 20% longer than a year ago. Nevertheless, the average listing price for a home in Alexandria was $282,000, up 10% from December 2023.

Travel and tourism indicators were also mixed. Hotel occupancy, as reflected in hotel occupancy tax revenue, showed declines in some parishes, while others experienced modest increases. Gasoline prices in the Gulf Coast region remained relatively stable.

Finally, new business formation in Rapides Parish experienced a decline for the year, with a 20% decrease in new businesses created in 2024 compared to 2023. This trend mirrors a
statewide decline in new business applications, suggesting a potential slowdown in entrepreneurial activity.

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 January 2025 CENLA Economic Dashboard, click here.

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

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