The Courier, Houma, La., on the economy

April 26
The Courier, Houma, La., on the economy:
A booming economy and low unemployment rates are nothing new for our region.
News last week that our jobless rates were the lowest in the entire nation for the month of February, though, might have been a bit of a surprise.
We all know how healthy our economy has been — a condition that remained in place throughout the economic downturn that plagued much of the nation and has stayed since that time.
But the lowest rates in the nation?
That's something even the most optimistic cheerleader for our region wouldn't expect.
With a jobless rate of just 2.8 percent for the month, though, it is no surprise ours was the lowest in the U.S.
"We have been seeing a lot of activity in our area generated predominantly because of the oilfield booming in the Gulf," said Terre-bonne Parish President Michel Claudet. "We are an oil and gas service town and we reap that benefit. The great part is the peripheral things we're seeing. We're seeing an expansion of our retail areas, professional areas, housing. We're seeing an explosion."
As Claudet said, while the active economy is excellent news in itself, it brings other benefits to our area.
The jobs that come with the booming economy keep many of us employed. The industry also fills the coffers of our taxing districts, helping to pay for the public services we enjoy.
The industry, when it is booming as it is now, helps insulate us from even national trends such as the recent slowdown.
As a result, our real estate markets retained and even increased their value even as the markets elsewhere across the nation were thrown into chaos.
Also, the many jobs mean that our region is attractive to restaurants and retailers, services that increase the choices all of us have.
The challenge all of this brings is to fill the jobs that are available. Because so few of us are looking for work, it is extremely difficult for all the oil and service companies to fill the jobs they have.
Still, we have to train the people who are working to be eligible for better, more lucrative jobs. We also have to make sure our young people are poised to take advantage of the excellent opportunities they have right here.
It is easy to take for granted the fact that our region enjoys such incredible economic success. We have to be vigilant, though, that we take full advantage of it, that we and our children are the people who take the best jobs. Otherwise, they will be filled by people who are drawn here by these opportunities.
Altogether, these are great problems to have.
We have known for years that conditions have been historically good. Now, the numbers tell the same tale, bearing out that we are the best in the nation at putting people to work.
Let's keep it up.
Online:
http://www.houmatoday.com