The Baton Rouge Area Chamber’s 2020 Economic Outlook predicts continued job growth, with an additional 4,900 jobs to come to the area next year.
That means there could be a 1.2% job growth in non-farm jobs, according to Morgan Kastner of BRAC.
“The Capital Region economy experienced modest job and income growth over the year, and we see evidence that the growth will have a faster pace in 2020,” BRAC President and CEO Adam Knapp said. “With a large number of manufacturing expansions beginning in 2020, we anticipate the region will see its largest job growth since 2015.”
The report also determined that, between 2008 and 2018, median household incomes in Baton Rouge increased by 19%, compared to an average increase of 10% for Louisiana overall.
College enrollment in the region’s five largest institutions is almost 53,000, the first time enrollment in those institutions has surpassed 50,000 since 2013, Kastner wrote.
The construction sector suffered a 4.4% decrease in employment, and that sector is the area’s third largest for job distribution.
Health Care and Professional Services are projected to continue the growth they’ve seen in prior years.
Click here to view the full report.