New Orleans is losing population, which is part of a larger national trend of shrinking cities.
That has a lot of economists and others worried.
Earlier this year, the metro New Orleans area was estimated to have seen the biggest population loss among cities with at least 500,000 residents anywhere in the U.S.
Demographer and political consultant Greg Rigamer says that, while many potential factors go into each individual’s reasons for leaving, much of it comes down to economics.
“The problem is, we’re losing a lot of young people. And when you look at where our young people are going, for the vast majority, they’re going to areas that represent better job opportunities and better income opportunities,” Rigamer notes.
He says the state is seeing outmigration too, and it comes down to money.
“The state of Louisiana is at around 70-75% of the median household income of the United States. We consistently rank around 45-50th … around the bottom of the stack … relative to income,” says Rigamer.
When it comes to growing the population of any area, residents with disposable income are crucial.
“The bottom line is, the median household income in the US is around $75,000. Throughout Louisiana, it’s substantially lower than that. We don’t have a sustainable job base that generates wealth,” Rigamer goes on to point out.
He notes that many of the best minds are hard at work trying to sort out the causes and solutions to this issue, and only hopes that some of them can move the needle going forward.
