BATON ROUGE, LA (WAFB) – A study by the website 24/7 Wall Street says that Louisiana has one of the worst run governments in the nation.
Louisiana ranked eighth worst out of the fifty states, based off of a number of factors like credit rating, unemployment rate, median household income, and poverty rate.
The study says that things in Louisiana will get “worse before they get better,” and that stunted job growth affected the state’s rating.
Read on to learn more about Louisiana’s ranking information by 24/7 Wall Street’s website.
> Debt per capita: $3,998 (17th highest)
> Credit rating (S&P/Moody’s): AA/Aa2
> Unemployment rate: 6.2% (5th highest)
> Median household income: $44,555 (7th lowest)
> Poverty rate: 19.8% (3rd highest)According to Moody’s, which applies a negative outlook to the state’s Aa2 rating, things are likely to get worse in Louisiana before they get better. Moody’s cited a dwindled rainy day fund and “muted job growth” as some justifications for its unfavorable forecast. In the last four years, the state’s unemployment rate has declined by just 1.3 percentage points, far worse the 3.8 percentage point national improvement. Today, 6.2% of Louisiana’s workforce is out of work, the fifth highest unemployment rate nationwide.