ABiz -> Acadiana Business THU, OCT 7 10:14AM by Leslie Turk

Scott: Lafayette losing 3,000 jobs next year

Dr. Loren Scott predicts the Lafayette MSA will lose 3,000 jobs in 2011. He attributes the anticipated job loss to a proposed federal tax on the oil and gas extraction industry, along with a slowdown in the Gulf of Mexico that will result from new regulatory burdens put in place due to the oil spill. (If the moratorium on deepwater drilling extends beyond the Nov. 30 deadline, the expected 2011 losses will increase by 9,000 jobs, the economist says.)

Scott's job loss predictions are supported by another expert: Dr. Joseph R. Mason, LSU Endowed Chair of Banking and nationally renowned economist, estimates that the proposed energy tax changes would trigger grave economic consequences, among which are:

Initial losses of more than 154,000 jobs by the end of 2011, not only in the energy sector but across the entire economy;
More than $341 billion in lost U.S. economic output; and
In excess of $68 billion in lost wages nationwide

View Mason's September report here.

Scott says the Lafayette metro will lose another 800 jobs in 2012.

Hear Scott's complete analysis at Tuesday's Entree to Business Luncheon, presented by ABiz and sponsored by MidSouth Bank and Dwight Andrus Insurance. Tickets are $50 per person or $450 for a reserved table of eight. For more information or to order tickets, contact Robin Hebert via email at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 337-769-8603. Read more about the annual event here.

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Comments (10)

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written by Jimbob , October 07, 2010 - 07:04 pm

Read Mason's report. There is not even a pretense of objectivity in the analysis, even in the table of contents! It sounds as dire as the claims a few months ago that the moratorium would destroy our economy. Did that happen? Uh, no. This guy is an endowed professor? Sheesh...

Listen, people. Bush II passed all sorts of tax cuts, every one imaginable, from 2001-2008. How'd that work out for us? Obama wants to bring them back to the levels that Reagan set in the '80s. What's wrong with that? Do you guys hate Reagan that much?

If anything, this all points to diversification. We failed to do it effectively in the '80s, and as a result, our state remains dependent upon a third world economy of extraction. C'mon, get your wheels out of the rut, Louisiana!

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written by Look Back , October 07, 2010 - 07:26 pm

Dr. Lauren Scott, while a popular and dynamic speaker, I think is over-rated (mainly by himself).

I would like to see a comparison of his previous annual predictions vs. what really happened.

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written by Turiddu , October 07, 2010 - 08:54 pm

Jimbob, you know nothing about creating jobs. It's obvious you are a tax and spend liberal who knows nothing about the economic impact of increasing taxes...It's economics 101. You have your head so far up Obama's @$$ you can't see the forest for the trees. I challenge you to go to Dr. Scott's presentation. If it's too far over your head, stay after and ask him your questions until you do understand.

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written by Turiddu , October 07, 2010 - 08:55 pm

Jimbob, I read the whole report...did you?

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written by Jenny Lind , October 08, 2010 - 02:15 am

Maybe if local businesses quit paying $450 a table for their employees to go to lunch with a snake oil salesman, then they could hire more workers...

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written by NORTHSIDIAN SHOTGUN , October 10, 2010 - 07:53 am

Loren Scott, came in through the back door.

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written by Plumpy , October 10, 2010 - 05:25 pm

On a happier note. With predicted job loss. Lafayette will see less traffic :)

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written by Northsidian Shotgun , October 11, 2010 - 02:30 am

Plumpy mah man, You pick em right out of the air ?

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written by Jimbob sux , October 14, 2010 - 12:43 am

Jimbob, if you think the moratorium didn't hurt our economy, you are crazy. Look at all the jobs that have gone overseas because of the moratorium. The gulf is slowly losing all of its oilfield workers. Many have already lost their jobs. The companies here will relocate to avoid the higher taxes and the BS Obama is putting them through. Stop drinking the koolaid..

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written by NORTHSIDIAN SHOTGUN , October 14, 2010 - 02:09 pm

Ga, Que Sera Sera, when we realize that what ever will be, will be, especially here in Louisiana where we would elect a man/women on the basis clearly proven, that we are too slow-witted to determine that its neither black or white but Gray.

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