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American Press
41 minutes ago
- American Press
Economic growth forecast for SW La.
All forecasts for Southwest Louisiana show economic growth — some areas faster than others — over the next year. Much will depend on new development projects and the speed of startup, according to Dan Groft, director of the H.C. Drew Center for Business and Economic Analysis at McNeese State University. Groft — who spoke Tuesday to members of the Kiwanis Club of Lake Charles — said Southwest Louisiana has the highest gross domestic product per capita in the state. 'What we produce in terms of output — even though it doesn't take a lot of labor per capita — is higher and that's mostly due to Cameron,' he said. 'Cameron has 4,600 people and they produce tons of manufacturing down there … and they export way more than they import.' Calcasieu also remains the gaming capital of the state. 'When you look at total adjusted revenues, we're up pre-COVID levels even with Horseshoe (then Isle of Capri) being closed for a good bit of that time,' he said. 'If you look at gaming per admission, revenue per admission, how much each person spends, we are way above 2020.' Total employment, however, remains very low by historical standards. Calcasieu has 13,000 fewer jobs than it had in February 2021. 'We are by far the lowest area in the state,' he said. 'We had COVID, then Laura and we have not recovered since. We knew some of the construction was going to come down because all those plants down in Cameron were finished. We didn't predict COVID.' The hospitality and leisure industry also took a major hit in 2020. 'It was going up, then comes COVID and Laura,' he said. 'That was unexpected so we took a double hit when you count hospitality and construction on unemployment in this area.' He said construction jobs remain low but when new LNG facilities reach Final Investment Decision, those will come. That will be followed by permanent jobs for people to run the facilities when they are complete. The rest of the employment fields 'are not too bad.' 'When you start looking at jobs and looking at your economy, you have to break it down,' Groft said. 'If I took out construction and looked at how we were growing I'd say it's not great but it's not terrible, either. It's kinda flat.' The good news, he said, is the region's population is growing. 'We are having an increase in domestic migration in Calcasieu, Cameron and Jeff Davis. Calcasieu people are starting to move back. We have grown faster than the state has the past two years so we're doing OK.' Parish sales tax collections are also up. Louisiana economy Louisiana was one of the slower states to get back to pre-COVID employment levels. 'We were hit hard with leisure and hospitality — that's big in New Orleans and that's big here — because we had some devastating disasters here and New Orleans and Houma had Hurricane Ida. We're still lagging behind some of our southern peers, but we're making progress. We still have a long way to go because we lost a lot of people and we lost a lot of jobs.' The larger employers in the state are in the fields of trade, transportation and utilities. 'That's a big sector. That includes retail trade, wholesale trade, jobs where you need a lot of people,' Groft said. 'Other things like manufacturing produce a ton of output but low employment. It has 18 percent of total output, but it's only about 7 percent of total employment.' About 11 percent of the state's workers are employed in the leisure and hospitality fields. 'When you look at other industries, some of them have been pretty flat,' Groft said. 'We need people. We need the workman to work jobs, build things, perform services.' Louisiana has the third lowest median household income in the nation. 'The problem is we have a very high poverty rate,' he said. 'We're a poor state and we have a very unhealthy population and that can hurt economic growth, as well. Lake Charles has a 17.8 percent poverty rate.' But Groft does have good news: Louisiana is finally seeing population growth, it offers a low cost of living and electricity rates are far lower here than the national average. National economy 'The national economy has actually been doing pretty good since 2020,' Groft said. 'We've had pretty general growth over the past fews; we had a couple of dips because all of these companies were stocking up on imports — imports don't increase gross domestic product — but then we saw a quick turnaround in 2025.' Total nonfarm employment is also growing each month. 'We are growing, we are not falling. And earnings are outpacing inflation.' The national economy is projected to grow about 2.5 percent, he said.
CNBC
2 hours ago
- CNBC
FDA may pull authorization of Pfizer's Covid vaccine for children under 5, company says
Key Points The Food and Drug Administration is considering revoking its authorization of Pfizer's Covid-19 vaccine for healthy children under the age of 5, the drugmaker confirmed to CNBC. The move could leave many kids with no available shots against the virus, though Moderna's shot will be an option for those at increased risk of severe illness due to at least one underlying condition. It would add to a string of recent efforts by U.S. health agencies to change and undermine immunization policy since Health and Human Services Secretary Robert F. Kennedy Jr., a prominent vaccine skeptic, took the helm. In this article PFE Follow your favorite stocksCREATE FREE ACCOUNT A nurse prepares doses of the Pfizer vaccine during a COVID-19 vaccination event at Josephine's Southern Cooking in Chatham, Illinois, Dec. 30, 2021. Brian Cassella | Tribune News Service | Getty Images The Food and Drug Administration is considering revoking its authorization of Pfizer 's Covid-19 vaccine for healthy children under the age of 5, the drugmaker confirmed to CNBC on Tuesday. The move could leave many kids with no available shot against the virus, as jabs from Moderna and Novavax are cleared for more limited populations. While Covid typically causes mild symptoms in most children, others, such as infants under 1 or those with certain health conditions, can be at a higher risk of severe illness and hospitalization. If the FDA pulls the authorization, it would add to a string of recent efforts by U.S. health agencies to change and undermine immunization policy since Health and Human Services Secretary Robert F. Kennedy Jr., a prominent vaccine skeptic, took the helm. HHS did not immediately respond to a request for comment. The FDA told Pfizer it might not renew its longstanding emergency use authorization for children ages 6 months to 4 years, the company said in a statement. Pfizer said it has requested the authorization to remain in place for the upcoming fall and winter season and is "currently in discussions with the agency on potential paths forward." The company said that the FDA's "deliberations" are not related to the safety and efficacy of the shot, "which continues to demonstrate a favorable profile." The Guardian first reported on the FDA's potential move. Moderna is working with the Centers for Disease Control and Prevention to boost supplies of its own Covid shot for children, the Guardian reported Saturday. In July, the FDA granted full approval to Moderna's Covid vaccine for children — but only for those with one more more health conditions that may put them at increased risk of severe illness if they become infected. The shots from both Moderna and Pfizer use messenger RNA technology. Kennedy has targeted those vaccines in the past, filing a petition in May 2021 demanding that the agency revoke authorization of the jabs. Meanwhile, Novavax 's protein-based shot has never been available for children under 12. In May, Kennedy announced that the Centers for Disease Control and Prevention has removed its recommendation of Covid vaccines for healthy children and pregnant women. But in updated guidance days later, the CDC said the shots "may" be given to those kids if a doctor agreed that it was necessary. Covid vaccines during pregnancy are now listed as "No Guidance/Not Applicable," where they were previously recommended for all pregnant adults.
The Hill
3 hours ago
- The Hill
Vaccine misinformation blamed for fatal CDC shooting
Georgia law enforcement officials confirmed during a Tuesday press conference that 500 shots were fired and about 200 rounds struck six different CDC buildings. Though no employees were hurt, DeKalb County police officer David Rose was fatally shot. The alleged shooter, Patrick White, died of a self-inflicted gunshot wound. Authorities said they found documentation in his house expressing his discontent with the COVID-19 vaccinations. Chris Hosey, director of the Georgia Bureau of Investigation, said the content of the documents was more about making the public aware of his distrust of the vaccine, though no direct threats were made. The American Federation of Government Employees (AFGE) union called out vaccine misinformation for putting agency staffers at risk. In a statement following the shooting, AFGE Local 2884 demanded a 'clear and unequivocal stance in condemning vaccine disinformation by CDC and HHS leadership.' 'Their leadership is critical in reinforcing public trust and ensuring that accurate, science-based information prevails. This condemnation is necessary to help prevent violence against scientists that may be incited by such disinformation,' the organization said. Former U.S. Surgeon General Jerome Adams, who served during President Trump's first term, echoed these sentiments. In an op-ed for Stat, Adams said the shooting was a reflection of threats to public health workers brought on by a climate of 'misinformation, politicization, and inflammatory rhetoric.' Health Secretary Robert F. Kennedy Jr., who Adams criticized for being slow to respond to the shooting, was not named by the AFGE, but has long spread vaccine misinformation. During an interview with Scripps News this week, he defended his decision to end funding for mRNA shots and reiterated his concerns about coronavirus vaccine injuries. When asked directly about a plan to quell misinformation and prevent something like the CDC shooting from happening again, Kennedy deflected any direct link. 'We don't know enough about what the motive was of this individual, but people can ask questions without being penalized,' Kennedy said, before criticizing the federal government's messaging about the coronavirus vaccine. Kennedy previously criticized CDC during his unsuccessful presidential campaign, calling it a 'cesspool of corruption' in a post on X, saying he would 'force the public health agencies to come clean about Covid vaccines.' During his Scripps interview, Kennedy sounded a different tone. 'They work in silence, saving us all and protecting our health. They should not be the targets of this kind of violence from anybody,' Kennedy said.
